Larsen & Toubro wins $300 mn gas project from Saudi Aramco

Larsen & Toubro (L&T) has won a $300 million contract from the Saudi Arabian Oil Company Saudi Aramco for setting up gas processing facilities.

The project is scheduled to be completed in 37 months. The scope of the contract includes project management, detailed engineering, procurement, supply, manufacturing, construction, among others.

"A joint venture company of L&T-Larsen Toubro Arabia LLC, has achieved a major breakthrough in the Kingdom of South Arabia by securing a large EPC contract from South Arabian Oil Company (Saudi Aramco)," the company said in statement.

The contract is for setting up gas processing facilities, for the Midyan gas facilities with a capacity to treat 75 million standard cubic feet per day of gas and 4,500 barrels per day of condensate and laying of gas and condensate product pipelines, the statement added.

In the past, L&T has worked for establishing onshore gas processing complexes for Reliance Industries at Kakinda, Cairn Energy at Barmer and gas treatment projects at Uran and Hazira for ONGC, the company added.

L&T shares ended marginally higher at Rs 1,419.50 on the Bombay Stock Exchange.

With inputs from PTI