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Hot Pursuit News

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(02 Jul 2024, 12:51)

L&T edges higher after hydrocarbon vertical bags 'significant' order from ONGC

Larsen & Toubro (L&T) advanced 2.62% to Rs 3620 after the company’s L&T Energy Hydrocarbon (LTEH) vertical secured a 'significant’ order from the Oil & Natural Gas Corporation (ONGC) for the eighth phase of pipeline replacement project.


The order involves engineering, procurement, construction, installation & commissioning (EPCIC) of 129-km subsea pipelines and associated modification works across India’s west coast offshore fields of the ONGC.

LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers.

Subramanian Sarma, whole-time director & president – Energy, L&T, said: "This order reflects ONGC’s continued confidence in L&T, and this emanates from our track record of successfully delivering complex offshore projects. This order further demonstrates L&T's unwavering commitment to India’s energy requirement."

As per L&T’s classification, the value of the said order lies between Rs 1,000 crore and Rs 2,500 crore.

Larsen & Toubro (L&T) is an ...

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