Overview
- Larsen & Toubro announced on Monday that it has won an 'ultra‑mega' order in the Middle East to develop multiple offshore facilities.
- The work will be carried out by L&T Energy Hydrocarbon Offshore (LTEH Offshore) on an EPCIC basis, meaning LTEH will handle engineering, procurement, construction, installation and commissioning for the project.
- L&T defines 'ultra‑mega' orders as contracts valued above Rs 15,000 crore, but the company did not disclose the client, the precise contract value, or the project completion timeline.
- The company highlighted LTEH Offshore’s integrated in‑house engineering, fabrication yards, project management and a fleet of specialised vessels, and noted about four decades of offshore experience that it says underpin its ability to deliver complex projects.
- Analysts and the company say the award should boost revenue visibility for L&T’s hydrocarbon business in the Middle East, but investors will watch execution, margins, cash flow and working capital as the project proceeds.