L&T surges as its arm bags international EPC order from Saudi Aramco

07 Jan 2014

Larsen & Toubro (L&T) is currently trading at Rs. 1014.40, up by 3.10 points or 0.31% from its previous closing of Rs. 1011.30 on the BSE.

The scrip opened at Rs. 1015.00 and has touched a high and low of Rs. 1023.60 and Rs. 1008.60 respectively. So far 78551 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1152.40 on 09-Dec-2013 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. 1079.70 and Rs. 1001.00 respectively. The current market cap of the company is Rs. 94440.52 crore.

The institutions and non-institutions held 52.61% and 44.43% stake in the company, respectively.

The Power Transmission & Distribution Business of L&T Construction, through its fully owned subsidiary L&T Saudi Arabia LLC, has bagged a major international EPC order in the Kingdom of Saudi Arabia from the Saudi Arabian Oil Company (Saudi Aramco). Larsen & Toubro Saudi Arabia LLC is one among multiple joint ventures of L&T in the high-growth market of Saudi Arabia. The project will be completed in 26 months.

This prestigious order has been secured for the construction of 55 km of 230kV Double Circuit Overhead Transmission line and Underground Cabling. The purpose of this project is to replace the existing 115kV electrical power supply system by the new 230kV power system at the Abu Ali Plants to overcome existing electrical system deficiencies and to meet future electrical demand load required by Berri field to maintain the production at 250 MBCD and to support Karan and Arabiyah fields.

The scope involves detailed design, engineering, site investigation, survey, material procurement, transportation, installation, As-Built documentation, training, mechanical completion, Pre-Commissioning of the Onshore facilities associated with construction of 230kV Double circuits, overhead transmission lines/power cables from Wasit Cogeneration substation with associated gantries and transmission yards up to the beach transition yard at Khurasaniyah area and from Abu Ali Plant 230kV substation with associated gantries and transmission yards up to the beach transition yard at Abu Ali Island.

 

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