Industry

L&T Hydrocarbon Engineering bags up to Rs 5,000-cr order from ONGC

Hydrocarbon Engineering's high-tech spool base facilities at its fabrication facility at Kattupalli near Chennai.   | Photo Credit: K. Pichumani

L&T arm bags ₹5,000-cr. order from ONGC

L&T Hydrocarbon Engineering (LTHE) on Thursday said it has bagged an order worth up to ₹5,000 crore from Oil & Natural Gas Corporation (ONGC). The engineering and construction company, however, did not provide the exact value of the contract, but as per its project classification, the value of a large order ranges between ₹2,500 crore and ₹5,000 crore.

The contract has been awarded through international competitive bidding on a lump sum turnkey basis, L&T said in a statement.

Subramanian Sarma, Whole-time Director and senior EVP (Energy), L&T and CEO and MD of LTHE said, “We have been delivering several large and mega projects for ONGC over the past decade. Our world-class fabrication facilities at Hazira (West Coast) and Kattupalli (East Coast) enable us to maximize the local content, entirely supporting the Government’s AatmaNirbhar Bharat Policy.” Shares of L&T were trading 2.15 per cent higher at Rs 1,341.90 apiece on BSE. PTI SVK NAM ANS ANS

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Printable version | Jan 28, 2021 4:52:08 AM | https://www.thehindu.com/business/Industry/lt-hydrocarbon-engineering-bags-up-to-rs-5000-cr-order-from-ongc/article33523579.ece

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