L&T shares jump 1% on securing large order win worth ₹2,500 to ₹5,000 crore from Petronet LNG

Shares of India’s leading conglomerate, L&T, jumped nearly 1% after the company announced a large order win for its hydrocarbon business. The shares traded 0.6% higher at ₹3,893 apiece on the NSE at 11:30 am.

Larsen & Toubro’s hydrocarbon onshore business vertical (L&T Onshore) has won a large order from Petronet LNG, a joint venture promoted by four leading PSUs, viz., Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), GAIL (India) and Bharat Petroleum Corporation (BPCL). The order is valued in the range of ₹2,500 crore to ₹5,000 crore.

The project, to be delivered entirely on a Lump Sum Turnkey basis, comprises engineering, procurement, construction and commissioning of a Liquefied Natural Gas (LNG)/Ethane double-wall storage tank with a capacity of 170,000 cubic metres and a Propane double-wall storage tank with a capacity of 140,000 cubic metres at the Dahej Petrochemical Complex in Gujarat. The scope also includes Ethane and Propane handling and dispatch facilities to support the Propane Dehydrogenation and Polypropylene plant.

This project is part of India’s first petrochemical complex, integrating cold energy utilisation from an LNG terminal and is expected to contribute towards bridging the domestic polypropylene demand-supply gap.

Larsen & Toubro (L&T) is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.