L&T's manufacturing arm bags orders worth up to Rs 5,000 crore across five global regions
New Delhi, July 24
Larsen & Toubro's manufacturing arm L&T Heavy Engineering has bagged a series of international orders totalling up to Rs 5,000 crores across five major regions, as per an exchange filing.
These orders have come from Asia, Africa, North America, South America and Europe, which include expansion projects from one of the largest industrial giants of Africa.
"The business has secured orders from Africa's largest industrial conglomerate, Dangote Group, for a mega refinery and multi-train fertiliser expansion projects in Nigeria and Ethiopia," the exchange filing said.
The scope of the order includes the supply of critical process equipment, including the world's largest Fluid Catalytic Cracking Reactor Regenerator Package, along with key urea and ammonia equipment.
Additionally, the business has bagged multiple orders for an LNG project in Canada. The company said in its exchange filing that "...it has won a repeat order from a Japanese customer for the manufacture and supply of Heat Exchangers and Absorbers for an LNG project in Canada."
The filing further added that L&T Heavy Engineering has also bagged orders for its core equipment including coke drums, fractionator columns and heat exchangers from customers in Spain, US and Brazil.
Anil Parab, Whole-time Director & Sr Executive Vice President - Manufacturing, L&T, said: "These orders reaffirm the trust and confidence that customers place in L&T's world-class manufacturing capabilities and its consistent track record of delivering highquality process equipment to global clients."
L&T's Metals & Minerals (M&M) business vertical also secured multiple orders totaling up to Rs 15,000 crore from domestic metals and mining companies, the company added in an exchange filing dated July 20.
Larsen & Toubro is a USD 32 billion Indian multinational engaged in engineering, procurement and construction (EPC) projects, high-tech manufacturing, products and services across diverse sectors and geographies. The company boasts a market cap of Rs 5,12,796.17 crore as of July 24, as per BSE.
The shares of L&T were trading at around Rs 3727, down 66.60 points or -1.76 per cent at the time of reporting.
— ANI
Reader Comments
Great news for the economy! But I hope these large orders also translate into more jobs for Indian engineers and skilled workers back home. Sometimes the benefits of such global wins don't trickle down as expected.
World's largest Fluid Catalytic Cracking Reactor Regenerator Package! That's some serious engineering. Proud moment for L&T and India. The Dangote Group is a huge client in Africa; this could open doors for more business across the continent.
Impressive global reach—orders from Asia, Africa, North America, South America, and Europe. But I notice the stock is down nearly 2%. Is this already priced in? Sometimes the market reacts strangely to good news.
Wonderful to see Indian engineering firms winning big globally! The Dangote refinery in Nigeria and fertilizer projects in Ethiopia will help our African partners too. This is how India should engage with the world—through skill and technology.
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