L&T - Outotec consortium bags Rs.762 Crores Sinter Plant Order from SAIL

Larsen & Toubro Ltd (L&T) has announced that the Company's ECC Division in consortium with Outotec GmbH, Germany have bagged a Rs 762 crore Sinter Plant order, from Steel Authority Of India Ltd (SAIL). This plant of 2 X 204 square metre grate area with a capacity of 3.80 Million Ton Per Annum, is to be executed on a turnkey basis, at the IISCO Steel Plant (ISP) of SAIL, at Burnpur, West Bengal.

The order value for the Company is Rs 639.99 Crore and Euro 22.08 Million for Outotec.

The new sinter plant will be part of SAIL's ambitious programme of expanding its capacity at ISP by 2.5 MTPA crude steel. The turnkey sinter plant project is to be completed in 29.5 months.

Outotec's scope covers basic engineering, supply of proprietary and special equipment as well as technical services while the Company's scope covers detail engineering, supply of indigenous mechanical, electrical and instrumentation works and complete site services including civil, structural and erection works.

The Company along with Outotec is presently executing a 2.3 Million Ton per Annum Sinter Plant on turnkey basis at Tata Steel, Jamshedpur, which is nearing completion. This consortium has also received an order, from Tata Steel, for a 5.75 Million Ton per Annum sinter plant for the new Kalinganagar, Orissa unit. This new order re-confirms the Company and Outotec's leadership position hi the Steel Industry for Sinter Plants.

The stock was trading at Rs.2616, up by Rs.47 or 1.83%. The stock hit an intraday high of Rs.2650 and low of Rs.2591.50. The total traded quantity was 66485 compared to 2 week average of 174307.

Source : Equity Bulls

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