Infrastructure conglomerate Larsen an Toubro's (L&T) wholly-owned subsidiary L&T Hydrocarbon Engineering today secured significant orders in the range of Rs 1,000 crore - ₹ 2,500 crore from from GAIL India and Air Products Middle East Industrial Gases LLC.
L&T Hydrocarbon Engineering - dedicated to serving the oil and sectors around the world, bagged the orders in the construction services segment, according to a regulatory filing by L&T to the stock exchanges on Tuesday, September 21.
The first order is for the country's leading natural gas transmission company - GAIL India's Mumbai to Nagpur Pipeline under which the infra major will be responsible for laying steel gas pipeline and construction of the terminals and the associated facilities. The schedule for the pipeline project which will be laid alongside the upcoming Mumbai-Nagpur super communication expressway is 4 months.
L&T has won another order worth Rs 1,000-2,500 crore from a company based in Saudi Arabia for constructing a steam methane reformer (SMR) to produce hydrogen. “LTHE’s second order comes from Air Products Middle East Industrial Gases LLC for its Industrial Gas Hub (IGH) Network project at Jubail, KSA. Under the contract, the company will construct steam methane reformer (SMR) to produce hydrogen, an air separation unit (ASU) to produce oxygen and nitrogen, and hydrogen pressure swing adsorption (PSA) units. The overall duration of the project is 22 months,” L&T said.
The announcement comes a day after L&T’s arm LTHE won a contract for the construction of two Liquefied Natural Gas (LNG) storage tanks from Petronet LNG Ltd (PLL). “The contract is for Engineering, Procurement, Construction and Commissioning of two LNG Storage Tanks with a capacity of 170,000 m3 each for Phase IIIB of the Dahej Expansion Project at Dahej, Gujarat,” L&T had said.
L&T Hydrocarbon Engineering's construction services business segment offers turnkey construction of refinery, chemical and fertilizer projects, petrochemical, gas gathering stations. The company also specializes in oil and gas terminals and field development which includes storage tanks, underground cavern storage systems for LPG, as well as cross-country hydrocarbon pipelines.
On 21st October, shares of L&T were last trading 0.22 per cent lower at Rs. 1,700 on the BSE. L&T opened on the BSE at Rs. 1,700, touching an intra-day high of Rs. 1,719, and an intra-day low of Rs. 1,692.30, in the trading session so far.