Larsen and Toubro Gets Over Rs 5,000-Crore Order from Kuwait-based Firm
New Delhi: L&T Hydrocarbon, wholly-owned subsidiary of the infrastructure and construction major Larsen and Toubro Ltd, on Monday said it has received an over Rs 5,000 crore ($846 million) engineering, procurement and construction (EPC) order from Kuwait Petroleum Corporation.
"L&T Hydrocarbon - the wholly-owned subsidiary of L&T dedicated to oil and gas - has achieved a major breakthrough in the Middle East by securing a contract valued at KWD 239.7 million ($846 million approximately) from the Kuwait Oil Company (KOC)," it said in a statement.
It would execute a complete EPC contract for a gathering centre for KOC, a subsidiary of Kuwait Petroleum Corporation (KPC).
The scope of the contract includes project management, detailed engineering, procurement, supply, construction, testing, mechanical completion, pre-commissioning, commissioning assistance including performance testing.
"The new facilities will support KOC's long-term strategy for the development of the North Kuwait fields to increase oil production to 1 MMBOPD by 2015/2016," it said.
L&T said it won the order against stiff competition from European and Korean EPC majors. It represents a significant step forward in the company's strategic growth plan in international hydrocarbon sector.
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