L&T bags orders worth Rs 1,103 cr in Railways

Larsen & Toubro (L&T), India's leading construction and engineering company, bagged orders worth Rs 1,103 crore in its Railway Business Unit from from power plant developers for construction of 'Merry-Go-Round' Systems and construction of railway lines to link power plant sites to the main line rail network, according to a press release filed by the BSE.

The release informs that the orders include a Rs 365-crore order from Maithon Power Ltd,a  joint venture of Tata Power and Damodar Valley Corporation, for construction of 21 km rail link in Maithon, Jharkhand.

The second order from Nabha Power Ltd, a wholly-owned subsidiary of L&T power Development Ltd, worth Rs 270 crorefor construction of 13 km double-track electric rail linkto its power plant in Rajpura, Punjab.

The third order from BALCO amounted to Rs 151 crore for incresaing the existing railways facilities at Korba in Chhattisgarh.

The company also secured orders from Sterlite Energy Ltd worth Rs 317 crore for enhancing the existing railway facilities in Orissa.

All the above orders will be executed by the Rail Infra Division of L&T's Railways Business unit of Faridabad on a design, build and lump sum turnkey basis after obtaining statutory approvals of the Indian Railways.

At 1:20 pm, the shares of L&T were trading up 4.95 per cent at Rs 1,984 on the Bombay Stock Exchange.