L&T classifies orders in the ₹2,500 crore to ₹5,000 crore range as “large”. This is the company’s second “large” order in three days.
The project is to be delivered entirely on a lump sum turnkey basis. It comprises engineering, procurement, construction and commissioning of a liquefied natural gas (LNG) / ethane double-wall storage tank with a capacity of 1,70,000 cubic metre and a propane double-wall storage tank with a capacity of 1,40,000 cubic metre at the Dahej Petrochemical Complex in Gujara, L&T said.
The scope also includes ethane and propane handling and despatch facilities to support the propane dehydrogenation and polypropylene plant, L&T said.
The 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, it added.
On Wednesday, L&T won another “large” order from Torrent Energy Storage Solutions Pvt. ltd. to construct the 3,000 MW Saidongar-1 Pumped Storage Project (PSP) in Raigad, Maharashtra.
This is India’s biggest pumped storage project, L&T said. The PSP will comprise 10 units of 300 MW each, it said.
The scope of work includes design, engineering and execution of all civil and hydro-mechanical jobs associated with the project.
The company said PSPs are vital to ensure grid stability and meeting peak power demand. The Saidongar-1 project is expected to enhance grid reliability and energy security for Maharashtra and beyond, it added.
Shares of L&T were in the news this week after MEED had reported that Kuwait is planning on cancelling projects worth nearly $9 billion, which sparked a sell-off in the stock. While the company did issue a clarification, analysts cut their earnings estimates on the stock, projecting this development to be a potential overhang on the stock.
L&T shares were trading 1.1% higher at ₹3,908.6 apiece around 10.20 AM on Friday. The stock has gained 10.7% int he past year.
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