L&T secures ₹5,000–10,000 crore contract from Kuwait Oil Company
after close1 source ↓written by the desknot a recommendation
- from Kuwait Oil
- ₹5,000-10,000 crore
- each
- 618,000 barrels
Larsen & Toubro's energy division has secured a major EPC contract valued between ₹5,000-10,000 crore from Kuwait Oil Company. The project involves upgrades to the Jurassic Light Oil export facilities and includes constructing six new crude oil storage tanks with a capacity of 618,000 barrels each. This significant order enhances L&T's footprint in the Middle East energy sector.
The contract's scale may bolster L&T's revenue and strengthen its position in the global EPC market, potentially lifting near-term investor sentiment.
Not investment advice. For informational purposes only.