Larsen & Toubro (L&T) on Monday announced its wholly-owned subsidiary L&T Hydrocarbon Engineering (LTHE) has won a 'significant' order from Petronet LNG for two LNG storage tanks.
L&T categorizes orders with a value of Rs 1,000-2,500 crore as significant. Petronet LNG is a joint venture company promoted by four leading PSUs -- Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), GAIL (India) and Bharat Petroleum Corporation (BPCL).
"The contract is for engineering, procurement, construction and commissioning of two LNG storage tanks with a capacity of 170,000 m3 each for Phase IIIB of the Dahej Expansion Project at Dahej, Gujarat," L&T stated in a statement.
The project has been awarded through an international competitive requesting on lumpsum turnkey basis and demonstrates Petronet's trust in LTHE's capability to deliver the project within a challenging schedule while ensuring excellent safety and quality performance, it added.
"LTHE is committed to being an active EPC player in achieving Government of India's target of increasing the share of natural gas in the primary energy mix from the current 6 per cent to 15 per cent by 2030," L&T stated.
The firm is also executing LNG tanks for Dhamra LNG terminal in Orissa.
Shares of L&T were trading 0.15 per cent lower at Rs 1,712.95 on the BSE during the afternoon trade on Monday.
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