- Larsen & Toubro received a major order for Riyadh Metro extension in Saudi Arabia
- The project involves extending the Red Line with a value of Rs 5,000-10,000 crore
- L&T is part of a consortium including Webuild, Nesma, Alstom, and IDOM
Larsen & Toubro Ltd. has announced it has received a 'major' order from the Royal Commission of Riyadh City in Saudi Arabia for the extension of Riyadh Metro. The work pertains to the extension of the Red Line of the Riyadh Metro, with the project set to be worth around Rs 5,000 - 10,000 crore.
This is part of an ultra-mega project won by a consortium of Webuild S.p.A, L&T, Nesma & Partners Contracting, Alstom and IDOM, the company confirmed in an exchange filing. The project pertaining to Riyadh Metro was won by L&T's Heavy Civil Infrastructure Business.
As part of the order, L&T will provide design and turnkey construction of an 8.4 km long metro line, comprising both elevated and underground sectors. The order will cover five stations of the Red Line of the Riyadh Metro.
The fresh order win for L&T comes ahead of the company's third-quarter earnings for the ongoing financial year, which will be reported on Wednesday.
Following the order win announcement, the stock is trading with gains of around 0.8%.
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