Adversitement
Larsen & Toubro Bags Orders Worth ₹2,500-₹5,000 Crore in Power Sector
Published On : 2024-02-08T05:31:03+0530 [ IST ] |
Author : Mayur_Tembhare
Home
Industry
Business and Finance
Larsen and Toubro official Logo
Maharashtra / Mumbai :
In a significant development for India's infrastructure landscape, Larsen & Toubro Ltd (L&T) has emerged victorious in securing multiple orders valued between ₹2,500 to ₹5,000 crore in the power sector. The company's power transmission and distribution (PT&D) business has proven its mettle by bagging orders not only within the country but also in the Middle East.
One notable order entails the establishment of a 75MW Floating Solar PV plant on the Panchet Dam. This initiative forms part of the ambitious Ultra Mega Renewable Energy Power Park, which is being developed on Damodar Valley Corporation reservoirs spanning across Jharkhand and West Bengal. This move underscores L&T's commitment to promoting sustainable energy solutions and contributing to India's energy" target="_blank">renewable energy targets.
Venturing into international territories, L&T has also secured a significant order in Saudi Arabia for the turnkey construction of a 380kV Substation. This project highlights L&T's global footprint and its expertise in executing complex infrastructure projects across borders.
Furthermore, L&T has solidified its presence in the Middle East by winning additional orders from hydrocarbon companies in Kuwait and Saudi Arabia for substations and voltage conversion projects. The company's ability to secure projects in diverse sectors reaffirms its position as a frontrunner in the global engineering and construction domain.
Closer to home, L&T continues to make strides in the United Arab Emirates (UAE) with an ongoing 220kV Power Supply Project. The company has clinched an additional order, further consolidating its foothold in the region's power infrastructure segment.
The news of these substantial orders has resonated positively in the stock market, with Larsen & Toubro's stock trading at ₹3,438.30 on the National Stock Exchange (NSE) as of 10.55 am on Wednesday. This represents a commendable increase of 0.41 per cent, reflecting investor confidence in L&T's capabilities and growth trajectory.
Larsen & Toubro's successful bid in securing these orders underscores its unwavering commitment to driving innovation, sustainability, and excellence in the global infrastructure landscape.
Source : Reutors
Tags : India , Infrastructure , Stock Market , renewable energy , distribution , orders , power sector , transmission , Middle East , Larsen & Toubro , construction ,
Summary : Larsen & Toubro Ltd, a prominent name in India's infrastructure sector, has clinched multiple orders valued between ₹2,500 to ₹5,000 crore. The company's power transmission and distribution (PT&D) business secured significant orders both domestically and in the Middle East. These orders encompass diverse projects ranging from a 75MW Floating Solar PV plant in India to turnkey construction of a 380kV Substation in Saudi Arabia. The stock of Larsen & Toubro traded positively following this news, reflecting investor confidence in the company's capabilities and growth prospects.
Adversitement