India’s leading construction and engineering majors including L&T and Punj Llyod are planning to make big strides in Turkmenistan by undertaking a series of high-value projects running into billions of dollars. This comes at a time when New Delhi is firming up strategic ties with the energy-rich nation over laying a $7 billion-plus pipeline to import natural gas besides negotiating stakes with Turkmen authorities in giant gas fields.
L&T CEO K Venkataramanan, visited Ashgabat last month and held detailed parleys with Tukmenistan’s deputy prime minister in charge, B Hojamuhammedov and other senior officials and discussed the company’s plans to build a series of overseas oil and gas platforms in the Turkmen sector of the Caspian Sea, government officials in the know told HT.
“L&T is hoping to win its first big order in Turkmenistan in about a month’s time, which will mark its successful foray not only into Turkmenistan but also in CIS,” a recent note from Indian Embassy in Tukmenistan to government authorities here said.
The note further mentioned about the visit of Atul Punj of Punj Lloyd on the available opportunities in Turkmenistan including ones relating to the building of the TAPI gas project pipeline.
“Welcoming L&T to Turkmenistan, deputy prime minister said huge opportunities await in Turkmenistan for a reputed firm like L&T,” the note said.
L&T will also open its local office in Ashgabat in two-three month’s time, the note added.
Officials also that L&T has made a strong bid for the supply of three overseas platforms in the Caspian for UAE-based company Dragon Oil, as well as a gas processing plant for Dragon, which is currently producing 70,000 barrels of oil (bpd) of oil in Turkmenistan.
L&T has also tied-up with a Turkish Company, Ronesans, for the civil construction part of the job, they added.
Besides, Turkmenistan, according to the note, is also keen that the Indian government should consider giving it a line or credit or loan as being done by China, Korea and Japan, a move that could enable Indian engineering and construction giants to do independent projects in Turkmenistan.