L&T bags contracts worth Rs748.70 cr in Oman

L&T bags contracts worth Rs748.70 cr in Oman

Mumbai: Larsen and Toubro, the country’s biggest engineering firm, today said its joint venture in Oman has bagged three contracts worth Rs748.70 crore.

Larsen & Tourbo (Oman) LLC is a venture between Larsen & Toubro FZE and Oman-based business group Zubair Corporation.

The biggest contract is for the Muscat Golf Course valued at Rs433.50 crore. The contracts from Dhofar Power Company (DPC) and Muscat Electricity Distribution Company for substations and associated works are worth Rs315.20 crore.

The firm said work for Muscat Golf Course includes development of luxury villas, apartments, roads and culverts, among others. The project is expected to be completed in 21 months, L&T said in separate filings to Bombay Stock Exchange.

Both these projects would be completed in 7-16 months.

In late afternoon trade, shares of the company were trading at Rs4,193.85, up 2.57% at the BSE.

The contract from DPC is valued at Rs186.50 crore and is for strengthening transmission and distribution systems in Dhofar region. The Muscat Electricity Distribution Company project worth Rs128.70 crore involves the construction of five substations and associated cabling works.