L&T bags Rs 24,000 Cr order from Saudi Aramco

Engineering and construction giant Larsen and Toubro Ltd has bagged a mega Armaco order, a report said on Thursday. GlobalData-backed MEED on September 7 reported that L&T has bagged two engineering, procurement, and construction (EPC) orders as part of Saudi Aramco’s second expansion phase of its Jafurah unconventional gas production project.

The order from Saudi Aramco’s Jafurah unconventional gas development project is nearly Rs 24,000 crore, reports said. The second contract is for constructing gas compression units and is worth $1 billion (Rs 83.2 billion).

According to the report, L&T will develop a gas processing plant and main process units for the project. Saudi Aramco has planned a $110 billion Jafurah gas project in the eastern province.

The company has classified projects worth Rs 1,000 to 2,500 crore as significant orders, while those in the range of Rs 2,500 to 5,000 crore as classified as “large”.

Aramco has issued letters of intent to the contractors, MEED reported, citing unnamed sources.

Barring this, the infrastructure major also submitted bids for another package of orders worth $10 billion for Saudi Aramco Safaniyah Gas Field recently.

In June, the conglomerate won a significant order from the National High Speed Rail Corporation for the Mumbai-Ahmedabad High Speed Bullet Train Project.

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L&T bags Rs 24,000 cr order