Larsen & Toubro (L&T), one of the 30 constituents of the BSE benchmark index Sensex, announced a major deal with a client in the Middle East for a project valued at more than ₹15,000 crore

Larsen & Toubro (L&T), one of the 30 constituents of the BSE benchmark index Sensex, announced a major deal with a client in the Middle East for a project valued at more than ₹15,000 crore

Larsen & Toubro (L&T), one of the 30 constituents of the BSE benchmark index Sensex, announced a major deal with a client in the Middle East for a project valued at more than ₹15,000 crore

Sensex constituent Larsen & Toubro (L&T) announced that its hydrocarbon offshore business vertical secured an “ultra-mega” order from a “prestigious client” in the Middle East. For L&T, an “ultra-mega” order is any project valued above ₹15,000 crore.

The Indian multinational firm neither specified any exact value for the deal nor disclosed who the client was.

The scope of the project secured by its unit, L&T Energy Hydrocarbon Offshore, includes “engineering, procurement, construction and installation of offshore structures, along with the upgradation of existing facilities.”

L&T Energy Hydrocarbon Offshore also has fabrication yards and a fleet of marine vessels for both shallow and deep-water field developments to provide engineering, procurement, construction, installation & commissioning (EPCIC) solutions in the offshore oil and gas sector.

“This ultra-mega order is a testament to the speed and precision with which the hydrocarbon offshore business vertical delivers complex projects across the globe,” L&T said in a regulatory statement.

Following the news, L&T’s stock jumped close to 1 per cent in the equities market, hitting a high of ₹3,455.25 per share on the BSE in morning trade.

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