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L&T Hydrocarbon led consortium bags $1.6 billion order from Aramco
Thursday, July 21, 2016 | News Source: business-standard.com | Company: L&T
  
Engineering major Larsen & Toubro (L&T) on Thursday said Hydrocarbon-led consortium has bagged order worth $1.6 billion (Rs 10,757.2 crore) from oil major Saudi Aramco.


"L&T Hydrocarbon Engineering (LTHE), a fully-owned subsidiary of Larsen & Toubro, in consortium with EMAS CHIYODHA Subsea (ECS), a 50:50 joint venture company owned by and has announced the conclusion of a large EPCI contract from Saudi Arabian oil giant Saudi Aramco," L&T said in a filing.


It further said: "The contract valued at over $1.6 billion is for development of second phase of Offshore Gas Field situated off the coast of Saudi Arabia. LTHE's share in the contract is 60 per cent."


The project is scheduled to be completed over a period of three and half years.


Shares of L&T were trading 0.60% lower at Rs 1,561.90 during afternoon trade on BSE.








Original News Link :-http://www.business-standard.com/article/companies/l-t-hydrocarbon-led-consortium-bags-1-6-bn-order-from-aramco-116072100409_1.html





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