 "Larsen & Toubro")
Larsen & Toubro (L&T) | Photo: Shutterstock
Engineering conglomerate Larsen & Toubro (L&T) on Tuesday said it has won new orders for the power transmission and distribution vertical in West Asia worth Rs 10,000 to Rs 15,000 crore.
In its press statement, L&T said its Power Transmission & Distribution (PT&D) vertical has won these orders for expanding and strengthening the electricity grids at high voltage levels in West Asia.
These orders were won in Saudi Arabia and the United Arab Emirates, pertaining to ±500 kV HVDC transmission links associated with these interconnections, two 380 kV overhead transmission lines and a bulk supply 380 kV gas-insulated substation in Saudi Arabia, and two major 400 kV gas-insulated substations in the UAE.
As of June, L&T had an outstanding order book of Rs 4.90 trillion, of which 35 per cent was from West Asia. Executives from L&T have earlier highlighted that a significant portion of its West Asia exposure comes from orders in Saudi Arabia.
Earlier this month, L&T said it has carved out a separate business vertical for renewable EPC (engineering, procurement, and construction) out of its Power Transmission & Distribution (T&D) business, within its Infrastructure Projects segment.
T. Madhava Das, whole-time director and senior executive vice-president (utilities), L&T, said, “The fortification and modernisation of transmission systems is the foremost step in establishing a secure, resilient grid capable of handling variable renewable generation in an evolving energy market.”
L&T has reported some of its largest wins from this geography. In September 2023, the company won a package related to Saudi Aramco’s gas-production project of combined value of $3.9 billion (equivalent to approximately Rs 32,455 crore at an exchange rate of around 83.22 per US dollar back then), one of L&T’s largest order wins in recent history in value terms.
In July, L&T said it had a mega order for a solar plant in West Asia. Prior to that, in January, L&T said it had won a mega order to construct an electrification system for the Mumbai-Ahmedabad high-speed rail project in India. The company does not disclose the exact value of the order wins but instead provides a range. A mega order refers to an order value in the range of Rs 10,000 to 15,000 crore.
First Published: Sep 24 2024 | 3:51 PM IST
