Larsen and Toubro (L&T), a $14-billion technology, engineering, construction, manufacturing and financial services conglomerate, has secured two engineering, procurement and construction (EPC) projects valued at Rs 1,100 crore in the hydrocarbon segment in the United Arab Emirates (UAE) and Qatar.
Takreer, a subsidiary of state-owned Abu Dhabi National Oil Company, has awarded an EPC project of a new aviation fuel terminal at the Abu Dhabi International Airport for developing storage and delivery of Jet A-I fuel. The project is scheduled to be completed in 30 months, L&T said in filing to the BSE on Monday.
In Qatar, the company won an EPC contract from Dolphin Energy Limited for third-party gas interconnecting facilities in Ras Laffan. The project is scheduled to be completed in 20 months, it added.
L&T is already executing another export gas upgrade facilities project for Dolphin Energy to increase the capacity of the export gas compressors facilities from 2.2 billion standard cubic feet per day (BSCFD) to 3.2 BSCFD by adding three new compression trains.
L&T’s scrip is currently trading at Rs 808 on the BSE, down 1.47%, over the previous close of Rs 820.05 a share.