L&T Hydrocarbon Engineering bags up to Rs 5,000-crore order from ONGC

New Delhi: L&T Hydrocarbon Engineering (LTHE) on Thursday said it has bagged an order worth up to Rs 5,000 crore from Oil & Natural Gas Corporation (ONGC). The engineering and construction company, however, did not provide the exact value of the contract, but as per its project classification, the value of a large order ranges between Rs 2,500 crore and Rs 5,000 crore.

“L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen and Toubro, has secured a contract from Oil & Natural Gas Corporation (ONGC) for their new living quarter (LQ) and revamp at ‘NQ Complex’ project,” L&T said in a regulatory filing.

L&T said the engineering, procurement, construction, installation and commissioning (EPICC) contract is for a new living quarter platform, ‘NQL Platform’ of 120 men capacity, bridge (with intermediate support) to existing ‘NQO Complex’ and major revamping/replacement of existing process systems / facilities at ‘NQ Complex’ in ONGC’s Mumbai High Asset on the West Coast of India.

The contract has been awarded through international competitive bidding on a lump sum turnkey basis, L&T said in a statement.

Subramanian Sarma, Whole-time Director and senior EVP (Energy), L&T and CEO and MD of LTHE said, “We have been delivering several large and mega projects for ONGC over the past decade. Our world-class fabrication facilities at Hazira (West Coast) and Kattupalli (East Coast) enable us to maximize the local content, entirely supporting the Government’s AatmaNirbhar Bharat Policy.”

Shares of L&T were trading 2.15 per cent higher at Rs 1,341.90 apiece on BSE.

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