L&T-Outotec consortium bags 762 cr order from SAIL

L&T-Outotec consortium bags 762 cr order from SAIL

Mumbai, 14 September Engineering and construction major Larsen and Toubro (L&T), along with Germany-based Outotec GmbH, has bagged a 762-crore order from Steel Authority of India (SAIL).

L&T’s Engineering Construction and Contracts (ECC) division, in consortium with Outotec GmbH, has bagged the contract from SAIL for construction of a sinter plant with 3.80 million ton annual capacity.

The order value for L&T is 639.99 crore while for Outotec, it is 124.04 crore, L&T said in a filing to the Bombay Stock Exchange.

The order would be executed on a turnkey basis at the IISCO Steel Plant (ISP) of SAIL, at Burnpur in West Bengal and is expected to be completed in 29.5 months.

The new sinter plant would be part of SAIL’s programme of expanding its capacity at ISP by 2.5 MTPA crude steel.

Outotec’s scope of work covers basic engineering, supply of proprietary as well as technical services while L&T’s scope includes detail engineering, supply of indigenous mechanical, electrical and instrumentation works and complete site services.

L&T along with Outotec is presently executing a 2.3 MTPA sinter plant on turnkey basis at Tata Steel, Jamshedpur, which is nearing completion.

This consortium has also received an order from Tata Steel for a 5.75 MTPA sinter plant for its new unit at Kalinganagar in Orissa.

Shares of L&T were trading at 2,614, up 1.75% on BSE in morning trade.