L&T arm bags order from ONGC

NEW DELHI, Mar 8:  L&T Hydrocarbon Engineering, a wholly-owned subsidiary of engineering major Larsen & Toubro, Friday said it has won a “significant” order from Oil & Natural Gas Corporation (ONGC).


The engineering and construction company, however, did not provide the exact value of the contract; but as per its project classification, the value of the contracts was in “significant” category which is valued in the range of Rs 1,000 crore to Rs 2,500 crore.


The engineering, procurement, construction, installation and commissioning (EPCIC) contract is for development of cluster-8 marginal field which is part of Mumbai High Asset located about 210 km to the west of Mumbai city, L&T said in BSE filing.


L&T said the contract has been awarded through international competitive bidding on a lump sum turn key basis.


Shares of Larsen & Toubro were trading 0.35 per cent higher at Rs 1,356 apiece on BSE. (PTI)