L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen a Toubro, has won two significant orders from Indian Oil Corporation (IOC).
Shares of Larsen & Toubro (L&T) gained 1 percent intraday Thursday after company's subsidiary bagged orders from IOC.
L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen a Toubro, has won two significant orders from Indian Oil Corporation (IOC).
The engineering, procurement, construction and commissioning (EPCC) contracts are for setting up Mono Ethylene Glycol (MEG) Plant and Ethylene Recovery Unit (ERU) under LSTK-1 Package, associated Offsite and utilities under LSTK-2 Package at IOC Paradip Refinery (Odisha).
MEG plant is licensed by Scientific Design with a capacity of 357 KTA while ERU is licensed by Lummus Technology (now McDermott) with a capacity of 180 KTA.
Both the projects, awarded through international competitive bidding, are on Lump Sum Turn Key (LSTK) basis and shall be executed concurrently.
Ethylene Oxide reactor, columns and other critical equipment for the project will be fabricated in house at Larsen a Toubro's manufacturing facilities.
At 09:40 hrs Larsen & Toubro was quoting at Rs 1,301.95, up Rs 6.65, or 0.51 percent on the BSE.
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