L&T bags contracts worth Rs 2.67 bn | business | Hindustan Times
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L&T bags contracts worth Rs 2.67 bn

business Updated: Sep 04, 2007 20:12 IST

Leading engineering and construction firm Larsen and Toubro Ltd (L&T) has bagged two contracts for capacity expansion projects worth Rs 2.67 billion from the Indian Oil Corp Ltd (IOCL) and China's Liaoning Huajin Chemical Corp.

"While the IOCL contact is for a residual upgradation project, the Huajin Chemical Corp's contact is for design, manufacture and supply of two reactors for a Chinese petrochemical plant," the company said in a statement on Tuesday.

"The demand for such critical hi-tech process plant equipment in the country as well as abroad is on the rise. We are expanding our manufacturing facilities at Hazira in Gujarat to cater to the demand," said L&T senior executive vice president (heavy engineering) MV Kotwal.

L&T, which has over the years developed capabilities to design and manufacture new generation equipment for the global market at its manufacturing facilities in Hazaria, has supplied several critical reactors to refinery and petrochemical majors across the globe including the US, Canada, Europe and China, the company said.

Kotwal said that currently the company's exports account for around 68 percent of its heavy engineering division's turnover.

"L&T had earlier manufactured and supplied a critical hydro-cracker reactor to IOCL's Gujarat plant," he said.