Larsen & Toubro Bags "Large" Order to Set Up LNG, Propane Storage Tanks

MT Newswires Live01-16

The hydrocarbon onshore business of Larsen & Toubro (NSE:LT, BOM:500510) has secured a "large" order, ranging between 25 billion Indian rupees and 50 billion rupees, from Petronet LNG, according to the Indian stock exchanges on Friday.

The contract is for the engineering, procurement, construction, and commissioning of a liquefied natural gas/ethane double-wall storage tank with a capacity of 170,000 cubic meters and a propane double-wall storage tank with a capacity of 140,000 cubic meters at the Dahej Petrochemical Complex in Gujarat, India.

The project will be delivered entirely on a lump sum turnkey basis.

The order also includes ethane and propane handling and dispatch facilities for the project to support the propane dehydrogenation and polypropylene plant.

The company's shares were up nearly 1% in recent trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment