[ad_1]
New Delhi: Engineering and construction behemoth Larsen & Toubro (L&T) on Thursday said its hydrocarbon business L&T Energy Hydrocarbon (LTEH) has secured two ‘significant’ orders for its asset management and AdVENT business verticals.
L&T classifies orders worth ₹1,000 crore to ₹2,500 crore as significant.
The infra major said Larsen & Toubro Energy Hydrocarbon – Asset Management (LTEH-AM), a new business vertical for operations and maintenance (O&M) and associated services in the global market, has secured its first integrated O&M contract from Vedanta Limited, Cairn Oil & Gas division.
The five-year contract is for integrated O&M of upstream oil and gas processing facility at Raageshwari gas terminal and associated gas well pads and south satellite fields, located in Rajasthan, it said.
The AdVENT business vertical has received an order for engineering, procurement and construction (EPC) of a hydrogen generation unit (HGU) from Matheson Tri Gas, Inc. (Matheson), a subsidiary of Nippon Sanso Holdings Corporation (NSHD).
“Matheson’s Global HYCO business group secured the order for this HGU from Numaligarh refinery in Assam, on a “Build – Own – Operate (BOO)” basis for 20 years with Topsoe, Denmark as the overall process licensor for the unit,” the company said.
The HGU, with a capacity of 95 KTPA (132 kNm3/hr), is an integral part of the Numaligarh Refinery Expansion Project (NREP), to expand the current refining capacity from 3 to 9 mmtpa.
The EPC work of the project will be executed by L&T, under a stringent timeline of 30 months, the company said.
“These orders reaffirm L&T’s execution prowess across the hydrocarbon value chain and leadership as a one-stop solution provider, which is translating into growing partnerships with global oil and gas majors. These will go a long way in growing the Indian energy sector and reducing our dependence on imports,” said Subramanian Sarma, whole-time director and senior executive vice president (energy) at L&T.
Larsen & Toubro is an Indian multinational engaged in EPC projects, manufacturing, and services. It operates in over 50 countries worldwide.
The EPC major’s consolidated net profit rose 22.5% to ₹2,228.97 crore on 23% rise in net sales to ₹42,762.61 crore in Q2 FY23 over Q2 FY22.
Shares of L&T were 0.44% lower at ₹2,185.85 against the previous close of ₹2194.70 on BSE.
Download The Mint News App to get Daily Market Updates & Live Business News.
[ad_2]
Source link
John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
