Wednesday, August 5, 2009

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.


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