L&T gains after bagging large contract in UAE

Larsen & Toubro (L&T) on Tuesday said its construction arm has bagged a large contract from Etihad Rail Company PJSC to design and build freight handling facilities at seven strategic locations across the United Arab Emirates (UAE)

As per the L&T's classification, the valuation of the 'large' order stands between Rs 2500 crore and 5000 crore.

Shares of L&T rose 1.07% to trade at Rs 1300.45.

Etihad Rail Company PJSC has been established under the Federal law of UAE, with the mandate to managethe development, construction and operation of the UAE's national freight and passenger railway network.

This design and build contract for freight facilities package has been bagged against stiff international competition and is a major breakthrough project for L&T in the stage-2 expansion phase of Etihad Rail. This project will be executed in joint venture with power China.

The scope of work involves design, engineering, procurement, construction & commissioning of bulk material handling systems (rail loading andunloading systems) with associated civil andstructural works, bulk material storage facilities, general cargo and container handling facilities with freight terminal management & control systems.

All the freight stations will include railway siding and track works apart from other infrastructure workssuch as bridges, buildings, roads & drains, water and electricity utility systems.

L&T is a multinational engaged in technology, engineering, construction, manufacturing and financial services.

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