6 June 2013
A joint venture company of India’s Larsen & Toubro, Larsen Toubro Arabia LLC, has secured a large EPC contract in Saudi Arabia.
The contract, reported by Reuters to be worth nearly $300m, is for new gas processing facilities for the Midyan Gas Fields and the laying of over 90km of gas and condensate pipelines for client Saudi Aramco.
The 37-month project is part of the Saudi’s efforts to meet the energy demands in its west coast region.
The scope of the contract includes project management, detailed engineering, procurement, manufacturing, and more.
India’s largest construction company, Larsen & Toubro (L&T) shocked shareholders in May after it revealed a 7% fall in first-quarter profits. The company said it was seeking more work abroad to make up for India’s sluggish economy and development.
Announcing the Saudi deal, L&T said: "With significant growth potential in the natural gas market in the Kingdom, this order is strategic from the point of view of L&T’s capability to execute such projects in an extremely competitive environment."
Source: Larsen & Toubro