L&T bags hydrocarbon orders worth Rs 4,000 cr

Engineering and construction major Larsen & Toubro today said it has bagged new orders worth Rs 4,000 crore ($889 million), mainly from the hydrocarbon sector.

Of the total, two contracts worth Rs 2,875 crore were from the UAE and the remaining were from Thailand, L&T said in a communique to the Bombay Stock Exchange (BSE).

A large chunk of the orders from the UAE came from ADNOC subsidiary ADMA-OPCO, a major oil and gas producer.

L&T got a Rs 2,000 crore order from ADMA-OPCO for carrying out the job of engineering, procurement, construction and installation (EPCI) of four wellhead towers and a manifold tower platform, among others.

The other order, valued at Rs 850 crore, is from Abu Dhabi Gas Industries for EPC installation and commissioning of the Habshan-Ruwais-Shuweihat gas pipeline project, which would be completed in 24 to 26 months.

The engineering major also won orders worth Rs 1,100 crore from PTTEP International, a subsidiary from PTT Public Company, Thailand, for a part of its Zawtika development project.

"The project, to be delivered in 24 months, consists of three wellhead topsides and three jackets weighing 7,000-8,000 tonnes, to be installed in a water depth of 130-150 metres," L&T said in the statement.

Shares of the company were trading at Rs 1,610 apiece at around 1210 hours at the BSE, down 1.82% over the previous day's close.