L&T bags 'large' order from Petronet LNG

Larsen & Toubro (L&T) on Friday announced receipt of a 'large' order from a joint venture of four oil and gas PSUs - Petronet LNG, promoted by Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), GAIL (India) and Bharat Petroleum Corporation (BPCL).The order received under L&T's hydrocarbon onshore business is classified as large, i.e. order value ranging between Rs 2,500 crores to Rs 5,000 crores.The scope of the order includes engineering, procurement, construction and commissioning of a Liquefied Natural Gas (LNG)/Ethane double-wall storage tank with a capacity of 170,000 cubic metres and a Propane double-wall storage tank with a capacity of 140,000 cubic metres at the Dahej Petrochemical Complex in Gujarat, the company said in a regulatory filing.Also read: L&T moves to calm nerves after report flags possible $8.7 bln Kuwait cancellationsPetronet LNG's order will be delivered entirely on a lump sum turnkey basis and further includes Ethane and Propane handling and dispatch facilities to support the Propane Dehydrogenation and Polypropylene plant."Securing this prestigious order from Petronet LNG is a strong endorsement of our proven expertise in executing complex EPCC projects. We are fully committed to completing this project safely, efficiently and within the agreed timelines, while upholding the highest levels of quality," E S Sathyanarayanan, Senior Vice President & Head of L&T Onshore, said.This 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, the company said.L&T Share Price: Shares of Larsen & Toubro (L&T) were trading at Rs 3900.00 (+34.50) per scrip as on 10:16 AM on Friday on BSE.