L&T bags $60-mn order from Saudi Arabian firm

MUMBAI: Engineering and construction major Larsen & Toubro on Wednesday said it has bagged a 60-million dollar order from Saudi Arabia-based Methanol Chemical Company (Chemanol) for setting up high technology plants.
   
This Engineering and Procurement (E&P) order involves setting up high-technology based Methyl Amines and Dimethyl Formamide plants, the company said in a filing to BSE.

UK-based Davy Process Technology, has provided the process technology for the 50,000 MTPA Methyl Amines and 60,000 MTPA Dimethyl Formamide plants incorporating advance design elements and elaborate environment control measures.

L&T's scope of work comprises detailed engineering, project management, procurement of the equipment and materials for the plant. It would also provide technical services for erection and commissioning of the plant.

Chemanol (earlier known as Saudi Formaldehyde Chemical Company) is a private sector enterprise, operating petrochemical complex located in Al Jubail Industry City, manufacturing formaldehyde and its derivative products.
   
The company is already executing 700 tonnes per day (TPD) of methanol and 100 TPD of carbon-monoxide plant for Chemanol as part of its backward integration project.

Both Methanol and Co are new materials for the Methyl Amines and DMF plants.

Shares of L&T were trading at Rs 3,258, up 3 per cent on BSE in morning trade.