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Indian construction giant Larsen & Toubro (L&T) on Tuesday said its power transmission and distribution arm has bagged “mega” orders valued between Rs 10,000 to Rs 15,000 crores to expand and strengthen electricity grids in Saudi Arabia and United Arab Emirates.
The company does not disclose the exact value of the order wins, instead provides a range. A mega order refers to an order value in the range of Rs 10,000 to 15,000 crore.
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The recent orders pertain to ±500kV HVDC transmission links associated with these interconnections, two 380kV overhead transmission lines and a bulk supply 380kV Gas Insulated Substation in Saudi Arabia and two major 400kV Gas Insulated Substations in UAE, the conglomerate said in a statement.
As of June, L&T had an outstanding order book of Rs 4.90 trillion, of which 35 per cent was from West Asia. Executives from L&T have earlier highlighted a significant portion of its West Asia exposure are orders from Saudi Arabia.
Earlier this month, L&T said it has carved out a separate business vertical for Renewable EPC out of its Power Transmission & Distribution (T&D) business, within its Infrastructure Projects segment.
T Madhava Das, whole-time director and senior executive vice president (utilities) L&T said, “The fortification and modernisation of transmission systems is the foremost step in establishing a secure, resilient grid capable of handling variable renewable generation in an evolving energy market.”
L&T has reported some of its largest wins from this geography. In September 2023, the company won a package related to Saudi Aramco’s gas-production project of combined value of $3.9 billion (equivalent to Rs 32,455 crore at an exchange rate of Rs 83.22 per US dollar back then), one of L&T’s largest order wins in recent history in value terms so far.
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In July, L&T said it has a mega order for a solar plant order in West Asia. Prior to that, in January L&T said it has won a mega order to construct an electrification system for the Mumbai-Ahmedabad High-Speed rail project in India.
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