L&T wins another order, share price soars

As L&T Hydrocarbon Engineering (LTHE), a subsidiary of Larsen and Toubro (L&T) has won an order from HPCL Rajasthan Refinery Limited (HRRL), the share price of L&T rose 2 per cent intraday on January 4.

HPCL Rajasthan Refinery Limited (HRRL), a joint venture between Hindustan Petroleum Corporation (HPCL) and the Government of Rajasthan has proposed an order which includes an engineering, procurement, construction and commissioning (EPCC) contract in order to set up a petrochemical fluidized catalytic cracking (PFCC) inclusive of propylene recovery unit, EPCC-03 package (capacity: 2.9 MMTPA), for Rajasthan Refinery Project at Barmer. The contract has been won by LTHE and the unit is licensed by TechnipFMC.

In addition to this, LTHE also received a mega EPCC contract for setting up a Dual Feed Cracker Unit (DFCU), EPCC-07 Package (capacity: 890 KTPA) for the refinery project which proves to be the biggest EPCC contract awarded in the country to date in the refinery and petrochemical sector.

At 1530 hours, Larsen & Toubro was quoting at Rs 1,315.55, up by Rs 18.55 on the BSE.

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