Larsen & Toubro’s Power Transmission & Distribution (PT&D) vertical has secured new mega orders, valued between Rs 10,000 crore and Rs 15,000 crore, to strengthen and expand electricity grids in the Middle East.
L&T shares gained on September 24, and were trading up 0.9 percent at Rs 3,820 on NSE, after rising to the day's high of Rs 3,831.8, amid muted headline markets. The stock has risen about 32 percent in the last one year, matching benchmark NSE Nifty 50's returns during the period.
In Saudi Arabia, L&T will establish High Voltage Direct Current (HVDC) transmission links, operating at ±500kV, which will interconnect different regions of the national grid, the company said in a stock exchange filing. These links will enhance the grid's ability to exchange power and improve overall resilience.
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Additionally, the company has won contracts to construct two 380kV overhead transmission lines and a 380kV Gas Insulated Substation (GIS), which are expected to support renewable energy integration and further strengthen the country's electricity network.
In Abu Dhabi, L&T will build two major 400kV GIS substations. These projects include a range of components such as Series Current Limiting Reactors, Auto Transformers, and advanced substation monitoring systems. The substations will help increase the power transfer capacity of the region's grid.
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