L&T Hydrocarbon Engineering bags up to Rs 5,000-cr order from ONGC

LT Hydrocarbon Engineering Limited LTHE, a wholly-owned subsidiary of Larsen and Toubro, has secured a contract from Oil Natural Gas Corporation ONGC for their new living quarter LQ and revamp at NQ Complex project, LT said in a regulatory filing.LT said the engineering, procurement, construction, installation and commissioning EPICC contract is for a new living quarter platform, NQL Platform of 120 men capacity, bridge with intermediate support to existing NQO Complex and major revampingreplacement of existing process systems facilities at NQ Complex in ONGCs Mumbai High Asset on the West Coast of India.

L&T Hydrocarbon Engineering (LTHE) on Thursday said it has bagged an order worth up to Rs 5,000 crore 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 a large order ranges between Rs 2,500 crore and Rs 5,000 crore. "L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen and Toubro, has secured a contract from Oil & Natural Gas Corporation (ONGC) for their new living quarter (LQ) and revamp at 'NQ Complex' project,'' L&T said in a regulatory filing.

L&T said the engineering, procurement, construction, installation and commissioning (EPICC) contract is for a new living quarter platform, 'NQL Platform' of 120 men capacity, bridge (with intermediate support) to existing 'NQO Complex' and major revamping/replacement of existing process systems / facilities at 'NQ Complex' in ONGC's Mumbai High Asset on the West Coast of India. The contract has been awarded through international competitive bidding on a lump sum turnkey basis, L&T said in a statement.

Subramanian Sarma, Whole-time Director and senior EVP (Energy), L&T and CEO and MD of LTHE said, "We have been delivering several large and mega projects for ONGC over the past decade. Our world-class fabrication facilities at Hazira (West Coast) and Kattupalli (East Coast) enable us to maximize the local content, entirely supporting the Government's AatmaNirbhar Bharat Policy." Shares of L&T were trading 2.15 per cent higher at Rs 1,341.90 apiece on BSE.