L&T gains after signing MoU with KBR

Larsen & Toubro (L&T) rose 1.34% to Rs 909.70 after L&T Hydrocarbon Engineering signed memorandum of understanding (MoU) with KBR for refinery and petrochemical projects.

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of L&T, has signed a MoU with KBR to build modular process plants for refinery and petrochemical projects. US-based KBR is an engineering, procurement, and construction company.

Under the terms of the agreement, KBR and LTHE will collaborate to develop business opportunities and LTHE will exclusively bid for KBR's solid acid alkylation technology (K -SAAT), solvent de-asphalting technology (ROSE) and catalytic olefins technology (K -COT) for global projects with special emphasis on India, South East Asia, Middle East and Africa.

LTHE delivers 'design to build' engineering and construction solutions across the hydrocarbon spectrum.

L&T's consolidated net profit fell 6.5% to Rs 3197.07 crore on 2.2% rise in net sales to Rs 44245.28 crore in Q4 March 2020 over Q4 March 2019.

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

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