L&T bags Rs 1,000 cr order for high tech equipments
MUMBAI: Engineering major Larsen and Toubro (L&T) has bagged orders totalling Rs 1,000 crore for supply of high tech equipment and systems in first two months of this fiscal and plans to expand its capacity to meet the growing demand.
Stating that the demand for such critical hi tech equipment in the country as well as abroad is on the rise, Larsen and Toubro Member of the board and Senior Executive Vice President M V Kotwal said, "we are expanding our manufacturing facilities at Hazi ra in Gujarat and setting up a new facility at Oman, to cater to the rising demand.''
The company has bagged two major orders, including one from Tata Power subsidiary company Coastal Gujarat Power for power plant equipment and the other was from HPCL Mittal Energy for critical reactors. The major export orders that the company received were from Kuwait National Petroleum Company, Brazil-based Petroleo Brasileiro, Germany-based UHDE, Thailand-based PTT Asahi Chem Co Ltd.
L&T has supplied several critical reactors and high pressure heat exchangers to refinery and petrochemical majors in US, Canada, Europe and China, the company said in a filing to the BSE.
Besides, the company has also developed capabilities to design and manufacture the new generation equipment for global markets. Shares of the company were trading at Rs 2,576.30, down Rs 41 or 1.55 per cent on the BSE at 12.15 p.m. - PTI