L&T Secures Order From ONGC For Subsea Pipeline Project
'This order further demonstrates L&T's unwavering commitment to India's energy requirement,' says Subramanian Sarma of L&T.
L&T Energy Hydrocarbon Ltd., a vertical of Larsen & Toubro Ltd., has secured an order from Oil & Natural Gas Corp. for the eighth phase of the pipeline replacement project off India's west coast. The company has classified this contract as significant, indicating that the project is worth Rs 1,000–2,500 crore.
The order involves engineering, procurement, construction, installation and commissioning of 129-km subsea pipelines and associated modification works, according to an exchange filing on Monday.
"This order reflects ONGC’s continued confidence in L&T, and this emanates from our track record of successfully delivering complex offshore projects," Subramanian Sarma, president - energy at L&T, said. "This order further demonstrates L&T's unwavering commitment to India's energy requirement."
L&T Energy Hydrocarbon offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers.
Shares of L&T closed 0.61% lower at Rs 3,527.65 apiece on the BSE, compared to a 0.56% advance in the benchmark Sensex.
