L&T surges on bagging EPC orders worth $480 million in Bangladesh for two gas based power plants

28 May 2014

L&T is currently trading at Rs. 1595.60, up by 30.25 points or 1.93% from its previous closing of Rs. 1565.35 on the BSE.

The scrip opened at Rs. 1570.30 and has touched a high and low of Rs. 1603.00 and Rs. 1570.00 respectively. So far 70998 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1622.70 on 26-May-2014 and a 52 week low of Rs. 678.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 1622.70 and Rs. 1471.00 respectively. The current market cap of the company is Rs. 147828.99 crore.

The Institutions and Non-Institutions held 55.07% and 42.25% respectively.

Larsen & Toubro (L&T) has received two EPC (Engineering, Procurement and Construction) orders valued at around $480 million for setting up dual fuel-fired gas based combined cycle power plants in Bangladesh. One order of approximately $280 million has been received from Marubeni Corporation, Japan, for setting up a 360 MW Bheramara Combined Cycle Power Plant Development Project of North West Power Generation Company (NWPGCL) in Bangladesh.

Another order of approximately $200 million has been received from Bangladesh Power Development Board for setting up a 225 MW Sikalbaha Combined Cycle Power Plant near the port city of Chittagong in Bangladesh. It was bagged against international competition from European, Chinese and Korean EPC companies. The plant will incorporate state-of-the-art gas turbines and steam turbines from Siemens AG, Germany and other steam turbine manufacturers, which will be procured by L&T.

L&T’s scope includes design, detailed engineering, supply, installation and commissioning of the complete power plants on a turnkey basis. L&T-Sargent and Lundy, a subsidiary of L&T, will carry out the plant integration and detailed engineering, using propriety technology of Sargent & Lundy LLC, USA.

L&T has executed several large gas-based power projects on EPC basis in the past for government utilities and independent power producers in India and abroad and has recently commissioned a 375 MW Gas Based Combined Cycle Power Plant with a Single Shaft advanced class Siemens gas turbine and steam turbine for the Gujarat State Electricity Generation Corporation at Dhuvaran.

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