LT wins contracts from ONGC

Larsen and Toubro (LandT) has won two offshore platform contracts worth over Rs 5,300 crore ($1.18 billion) from Oil and Natural Gas Corporation (ONGC (ONGC.NS : 1141.8 -37.5)). The order, the single largest in the Indian hydrocarbons sector.

Hyundai, Samsung and National Projects Construction Corporation were the other bidders for the contracts.

The company secured the turnkey order for the Mumbai High North process platform and living quarters project, with an additional order to build three process gas compression modules in the same complex. The projects have to be completed within three years.


With large exploration and production companies planning big investments in offshore business, the segment offers huge opportunities for engineering and construction companies such as LandT, both domestically and globally.

RIL - RNRL

A day after RNRL (Anil Ambani) petitioned the Supreme Court seeking modification in the Bombay High Court order, RIL(Mukesh Ambani) moved the apex court challenging the same judgement that asked it to supply 28 MMSCMD gas to RNRL at USD 2.34 per mmbtu. It alleged that the high court erred in deciding the three terms as to quantity, tenure and price of gas supply to power plants of RNRL affiliate.

The High Court on June 15 had asked RIL to honour a 2005 family agreement to supply 28 million cubic meters per day of gas from its Krishna-Godavari basin fields to RNRL at USD 2.34 per mmBtu for 17 years from the date of setting up of the Dadri power plant.

Nilekani resigns

Infosys Technologies co-chairman Nandan Nilekani resigns to head Indian government's ambitious over Rs 100 core Unique Identification project, reports CNBC TV18. The unique ID card scheme is expected to be in place in a year, says Montek Singh Ahluwalia of the Planning Commission. (The UID Authority of India will be under the aegis of the Planning Commission). As chairman of the body, Nilekani will have Cabinet minister rank and status, he adds. The PM's request to head this unique body is the reason why Nandan has stepped down from the Infosys Board as it is a project of national importance, says S Gopalakrishnan, MD & CEO of Infosys.