Indian construction and engineering major, Larsen and Toubro (L&T), has won a multi-million dollar pipeline construction contract from Kuwait Oil Company (KOC).
The company announced that the 145km-long new strategic gas export pipeline contract, which has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis, includes the construction of the gas export pipeline as well as associated facilities.
In Kuwait, the Indian contractor operates as Larsen & Toubro Kuwait Construction, which is a joint venture of L&T and Bader Al Mulla and Brothers Co. Currently, the Indian multinational company is executing a new 122cm crude transit line (CTL) that stretches from KOC oil fields in North Kuwait to a Central Mixing Manifold (CMM) located near Ahmadi.
Incidentally, the infrastructure giant recently launched its cutting-edge technology initiative called L&T-Nxt to support its work with new tech tools such as the internet of things (IoT), artificial intelligence (AI), and augmented reality. Results from this initiative are apparently beginning to appear in the form of new local, regional and international contracts for the firm.
Besides the gas export pipeline contract from KOC, L&T recently received orders from countries in the Middle East and the ASEAN region for several substations and transmission lines. “The Power Transmission & Distribution Business of L&T Construction has bagged several engineering, procurement and construction (EPC) orders across its various business lines,” the company said.
Furthermore, L&T has secured orders to lay underground cable in industrial areas and towns in India to improve the reliability of power supply. “Orders have also been won for several solar powered irrigation system,” added the company.
In March 2019, L&T Heavy Engineering, the Omani subsidiary of L&T Hydrocarbon Engineering Ltd, bagged an engineering, procurement, and construction contract to build a $450 million coke calciner project in Sohar, funded by Saleem Industrial Projects and BSW Group Holdings.
Although the multinational infrastructure firm did not specify the exact value of the “large” gas pipeline contract from KOC, it usually classifies construction contracts in the ‘large’ category if they are valued at US$360-720 million. Nevertheless, a missive on the gas pipeline contract posted by the company on the Bombay Stock Exchange where it is listed saw shares in L&T rise 1.94 percent to Rs1410.85 a share from the previous close.
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