Larsen & Toubro (L&T), the engineering major has said that an order worth $1.6 billion (Rs 10,757.2 crore) has been received by the L&T Hydrocarbon-led consortium from oil major Saudi Aramco.

L&T has said in a BSE filing that “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 Ezra Holdings Ltd and Chiyoda Corporation has announced the conclusion of a large EPCI contract from Saudi Arabia oil giant Saudi Aramco.”

It added that “The contract valued at over $1.6 billion is for development of second phase of Hasbah Offshore Gas Field situated off the coast of Saudi Arabia. LTHE’s share in the contract is 60 percent.”

Read EquityPandit’s Technical Analysis of Indian Stock Market