i Develop Stocks Advisory

L&T wins Rs 1250 Crore order from ONGC for Mumbai High South Field Larsen & Toubro Ltd (L&T) has announced that the Company has been awarded a Rs 1,250 crore turnkey fast track project by Oil & Natural Gas Corporation (ONGC), India. This order reaffirms L&T's world class capabilities in the Oil & Gas Sector. L&T will have single point responsibility for the complete engineering, procurement, fabrication & installation of the of the offshore platforms. The project comprises building three smart well platforms, sub-sea interconnecting pipelines, sub-sea cables and topside modifications for the Mumbai High South field. It will involve 15,000 tonnes of topside and jackets, 58 KM sub-sea pipelines & 22 km sub-sea cables, in addition to many state of the art & modern facilities. It is to be completed by April 2009. L&T will carry out the engineering design at their subsidiary L&T Valdel in Bangalore, and fabrication will be carried out at L&T's world class shore-based manufacturing complex at Hazira near Surat, as well as at the Company's modern large fabrication facility at Sohar in Oman. This contract was won through a competitive bidding process against international competitors. L&T has a strong track record of timely completion of similar projects for the upstream Oil & Gas sector.