L&T bags Rs 267 cr orders from domestic, intl clients

MUMBAI: Engineering and construction major Larsen & Toubro Ltd (L&T) has bagged two contracts worth Rs 267 crore from Indian Oil Corporation Ltd (IOCL) and China-based Liaoning Huajin Chemical Corporation for their capacity expansion projects.

"The demand for such critical hi-tech process plant equipment in the country as well as abroad is on the rise. We are expanding our manufacturing facilities at Hazira in Gujarat to cater to the demand," L&T Senior Executive Vice President (Heavy Engineering) M V Kotwal said.

L&T has supplied several critical reactors to refinery and petrochemical majors in US, Canada, Europe and China and has developed capabilities to design and manufacture the new generation equipment for global markets, the company said in a filing to the Bombay Stock Exchange.

Currently, L&T's exports account for around 68 per cent of the Heavy Engineering Division's turnover.

The IOCL contract was for residual upgradation project while the Huajin contract was for design, manufacture and supply of two reactors, for a petrochemical plant.

L&T had earlier manufactured and supplied critical hydro-cracker reactor and VSS reactor for IOCL, Gujarat.

Shares of the company were trading at Rs 2634.50, up 1.83 per cent on the BSE in afternoon trade.