Larsen & Toubro (L&T) on 11 October announced that its hydrocarbon business, L&T Energy Hydrocarbon, has received a LoI (letter of intent) for a ‘mega contract’ from a client in the Middle East.

The project includes EPC (engineering, procurement, and construction) of Gas Compression Plants that will consist of a Gas Compression System, Gas Inlet Facilities, Propane Refrigeration System, Produced Water Handling, Condensate Transfer and Utilities for Gas Compression Facilities for a new onshore facility and its integration with its existing Gas Compression Plants.

In its exchange filing, the company said, “To cater to the power supply requirements of the gas compression plants, 3 Nos of 230 kV extra high voltage substations will be set up by the Power Transmission & Distribution arm of L&T Construction.”

L&T Chairman and Managing Director SN Subrahmanyan said, “One doesn’t get to win such an order every day. This is something unique for L&T and a matter of pride for India – for we are a true Indian multinational. This also shows our capabilities to perform and deliver on time and the enormous trust that our client has on us to manage such complex projects.”

Mr Subramanian Sarma, Whole-time Director and Senior Executive Vice President (Energy) said that such a large order from a reputed customer is a reflection of the company’s consistent commitment to excellence, quality, and customer satisfaction and are honoured by customer faith. They will continue to deliver execution par excellence.

The company has yet to disclose the exact sum of the said contract, but it falls under the ‘Mega’ category, suggesting the order value is more than RS 7,000 crore.

At 3:30 pm, Larsen and Toubro shares closed at Rs 3,087.20 or 0.36% above its previous close on NSE.