L&T unit wins Saudi Aramco gas project order1 min read . Updated: 05 Jun 2013, 04:18 PM IST
The order won by L&T Saudi Arabia is worth close to $300 mn, says L&T’s CEO and MD K. Venkataramanan
“Saudi Aramco is an important client for us and we are bidding for several other projects of this company," he said.
The contract is for setting up gas processing facilities for the Midyan Gas Fields in Saudi Arabia, L&T said in a statement. The project is to be completed in 37 months.
Larsen and Toubro Saudi Arabia Llc is one of multiple L&T subsidiaries operating in the high-growth Gulf markets.
In the past, L&T has worked with Reliance Industries Ltd to establish an onshore gas processing complex at Kakinada and for Cairn Energy Plc at Barmer, and on gas treatment projects at Uran and Hazira for Oil and Natural Gas Corp. Ltd.
L&T is bidding more orders in West Asia, Indonesia and Malaysia, Venkataramanan said. “In this financial year, $3 billion worth of orders would be finalized in these above region and we are bidding for the same," he said.
L&T shares gained 0.73% to ₹ 1,419.50 apiece on BSE, while the Sensex added 0.11% to 19,568.22.