Larsen & Toubro (L&T) shares hiked 1% in the Tuesday Morning as its subsidiary in Hydrocarbon Consortium has won an award for two big projects from Saudi Aramco.
“This award consists of EPCI (Engineering, Procurement, Construction & Installation) of 3 oil production deck manifolds & pipelines in Berri fields and Zuluf of Saudi Aramco,” the construction & engineering major said.
This one is the 5th award for Hydrocarbon Consortium & offers for the significant pipeline projects for the firms, he further added.
There are 4 offshore contracts under the Hydrocarbon consortium for Saudi Aramco with a long-term agreement. L&T has 3 fabrication yards & this big project will be constructed as its flagship facility in Gujarat India.
At 11:36 AM, January 15, 2018, the share price was quoting INR 1,341.40 or up INR 7.50 or up 0.56%.