L&T Hydrocarbon Engineering bags significant orders from GAIL, Air Products Middle East Industrial Gases LLC

L&T Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, has bagged two orders in the Construction Services segment - one each from GAIL India and Air Products Middle East Industrial Gases LLC.

The first order is for GAIL India's Mumbai - Nagpur Pipeline under which the company will be responsible for laying steel gas pipeline (24" x 224 KM) - Section 1 of Part A and construction of terminals along with associated facilities. The pipeline project, due to be laid alongside the upcoming Mumbai - Nagpur super communication expressway, has a schedule of 14 months.

LTHE's second order comes from Air Products Middle East Industrial Gases LLC for its Industrial Gas Hub (IGH) Network project at Jubail, KSA. Under the contract, the company will construct steam methane reformer (SMR) to produce hydrogen, an air separation unit (ASU) to produce oxygen and nitrogen, and hydrogen pressure swing adsorption (PSA) units. The overall duration of the project is 22 months.

Both the contracts were secured by LTHE's Construction Services Business which offers turnkey construction of refinery, petrochemical, chemical and fertilizer projects, gas gathering stations and specializes in oil a gas terminals and field development including storage tanks and underground cavern storage systems for LPG, and cross-country hydrocarbon pipelines.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 1703.75 as compared to the previous close of Rs. 1715.5. The total number of shares traded during the day was 61942 in over 3602 trades.

The stock hit an intraday high of Rs. 1735 and intraday low of 1697.2. The net turnover during the day was Rs. 106283554.

Source : Equity Bulls

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