L&T, Mitsubishi JV wins Rs.1885 crore NTPC order

Engineering and construction conglomerate Larsen & Toubro (L&T) Friday said its subsidiary L&T-MHPS Boilers (LMB) has secured an order worth Rs.1,885 crore from state-run power generator NTPC.

The contract includes setting up of two units of 660 MW each supercritical steam generators for Tanda Thermal Power Plant stage-II on an engineering, procurement and construction (EPC) basis, L&T said in a stock exchange filing.

"LMB's scope includes design, engineering, supply, construction, erection, testing, commissioning and conducting performance guarantee of two coal-fired steam generator units with supercritical parameters," L&T said.

The project is located on the banks of the Tanda canal in the Ambedkar Nagar district of Uttar Pradesh.

The order, won through competitive bidding involving national and international players, is LMB's first for supercritical steam generators from National Thermal Power Corporation, the statement added.

The project is scheduled to be completed in 46 and 52 months for the respective units.

"We have the manufacturing and execution capabilities to deliver to stringent schedules while conforming to global standards," said Shailendra Roy, director (Power, Minerals and Metals) L&T.

LMB is currently executing 11 units of large capacity steam generators of around 700 MW in India totalling 7340 MW, the statement said. Two units of Nabha Power at Rajpura in Punjab have already achieved commercial operation and the remaining are in advanced stages of execution.

L&T-MHPS Boilers is a joint venture company of L&T with 51 percent equity and Mitsubishi Hitachi Power Systems, Japan with 49 percent equity.

L&T stock was trading at 1.28 pm Friday at Rs.1581.35 a share, 15.10 points, or 0.95 percent, lower than its previous close on the Bombay Stock Exchange (BSE).