 "L&T gains on winning contract worth Rs 1,700 crore in Kuwait")
Larsen & Toubro (L&T) was up by 1.5% to Rs 1,244 on BSE after the company announced that it has won contract valued around Rs 1,700 crore to build crude oil pipeline from Kuwait Oil Company (KOC), Kuwait.
“L&T’s hydrocarbon division has bagged a major pipeline contract with a value close to Rs 1,700 crore from Kuwait Oil Company (KOC) for engineering , procurement and construction of new 48” crude transit line (TL-5) from North Kuwait to Ahmadi,” the company said in a press release.
The completion of the project is scheduled in the third quarter of 2020, it added.
L&T is trading close to its record high of Rs 1,262 touched on March 4, 2015 on BSE in intra-day trade.
“L&T’s hydrocarbon division has bagged a major pipeline contract with a value close to Rs 1,700 crore from Kuwait Oil Company (KOC) for engineering , procurement and construction of new 48” crude transit line (TL-5) from North Kuwait to Ahmadi,” the company said in a press release.
The completion of the project is scheduled in the third quarter of 2020, it added.
L&T is trading close to its record high of Rs 1,262 touched on March 4, 2015 on BSE in intra-day trade.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%