Shares of Larsen & Toubro (L&T) were trading in the green and almost 1% higher on 26 March after the company announced that they had received the largest order for its offshore hydrocarbon business, valued at over Rs 15,000 crore from QatarEnergy LNG.
A leading global LNG company has awarded L&T Hydrocarbon Business (L&T Energy Hydrocarbon – LTEH) the contract for the North Field Production Sustainability Offshore Compression Project (NFPS COMP 4).
S N Subrahmanyan, Chairman & Managing Director- L&T, commented, “This prestigious project strengthens our global energy portfolio while supporting Qatar’s energy security objectives. I thank QatarEnergy LNG for placing their trust in L&T to deliver this complex and strategically important project.”
As per the company’s regulatory filing, the scope of the order entails the engineering, acquisition, manufacturing, installation, and commissioning of two offshore compression complexes. These complexes will be located around 80 kilometres off the northeast coast of Qatar and will include living quarters, flare platforms, interconnecting bridges, massive offshore platforms with compression and power generation facilities, and other related buildings.
At 12:59 pm, the shares of L&T were trading 0.05% higher at Rs 3,471.50 on NSE.
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