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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