L&T Bags 'Significant' Contract To Design, Build Oil And Gas Supply Base In Saudi Arabia
Indian multinational conglomerate Larsen & Toubro (L&T) has bagged a 'significant' contract to build "one of the world's largest oil and gas supply bases" in Saudi Arabia.
Though the company has not revealed the exact value of the order, the contract falls under 'significant' category which ranges between Rs 1,000 crore to Rs 2,500 crore.
"The buildings and factories business of Larsen & Toubro Construction has secured a Significant contract from Oilfields Supply Company Saudi owned by the Dubai based Oilfields Supply Center Ltd. to design and build one of the World’s largest Oil & Gas Supply Bases at King Salman Energy Park, Dammam, Kingdom of Saudi Arabia," the company said in a statement on Thursday (22 April).
The project involves constructing industrial facilities of different sizes, an administration building, ancillary buildings, associated infrastructure and storage yards along with Civil, Structural, MEP and Architectural works. The project is scheduled to be completed in 30 months, it added.
“We thank our client, for reposing confidence in our capability to build a project of such size and scale,“ said M V Satish, Whole Time Director & Senior Executive Vice President (Buildings), L&T.
Elaborating on its significance, he added, “This project will act as a business incubator to support the oil and gas industry in the Kingdom and help accelerate industrial growth in the energy sector. It has strategic significance for L&T too, marking our future growth in such a potential-rich market like the Kingdom of Saudi Arabia.”
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