Mumbai: Engineering and construction major Larsen & Toubro Monday said it has bagged Rs576 crore order from Hindustan Petroleum Corporation Ltd (HPCL).
The order was bagged by L&T’s Engineering and Construction Division for implementing a 200,000 tonnes per annum lube oil base stock (LOBS) plant, which would enable HPCL to produce higher value-added petroleum products, the company said in a filing to the Bombay Stock Exchange.
HPCL intends to set up this LOBS plant as a part of its quality upgradation project.
Jacobs Engineering India Pvt Ltd has been retained by HPCL to provide services for project management consultancy and ExxonMobil Research and Engineering (US) is the process licensor.
The scope of work for this order, includes residual process design, procurement, fabrication, construction, installation, commissioning and performance guarantee test runs for the said project.
Shares of the company were trading at Rs3,017, down 4.14% on the BSE in afternoon trade.