Moneycontrol
Last Updated : Jan 15, 2019 09:58 AM IST | Source: Moneycontrol.com

L&T gains 1% as hydrocarbon consortium wins EPCI order from Saudi Aramco

L&T said at present, there are four offshore contracts under execution by the consortium for Saudi Aramco under the long-term agreement.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Larsen & Toubro shares gained 1 percent in morning on Tuesday after its subsidiary in consortium with Subsea 7 has won yet another award for two projects from Saudi Aramco.

"The award consists of engineering, procurement, construction and installation (EPCI) of three oil production deck manifolds and subsea pipelines in Zuluf and Berri fields of Saudi Aramco," the engineering and construction major said in its filing.

This is the fifth award for the consortium and provides for significant project pipeline for the firms, it added.

L&T said at present, there are four offshore contracts under execution by the consortium for Saudi Aramco under the long-term agreement.

L&T has three fabrication yards and this project will be built at its flagship facility at Hazira in Gujarat, India.

At 09:49 hours IST, the stock was quoting at Rs 1,345.95, up Rs 11.95, or 0.90 percent on the BSE.
First Published on Jan 15, 2019 09:58 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant