L&T won a major Kuwait Oil Company contract covering crude storage tanks, pipelines and export network upgrades
The company has announced a string of large domestic and international order wins in recent days
Analysts remained constructive after the June-quarter earnings, citing robust order inflows
L&T Bags 'Major' Order From Kuwait Oil Company, Shares Jump After Results
According to L&T, the project includes the EPC of six crude oil storage tanks, each with an operating capacity of 618,000 barrels
L&T Bags 'Major' Order From Kuwait Oil Company
Summary
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Larsen & Toubro (L&T) has secured a 'major' engineering, procurement and construction (EPC) contract from Kuwait Oil Company (KOC) for the development of key Jurassic Light Oil (JLO) export facilities and the expansion of the country's crude export network, the company said in a regulatory filing on Wednesday.
Under L&T's order classification, a 'major' contract is valued between ₹5,000 crore and ₹10,000 crore.
The latest award extends the engineering conglomerate's run of large order announcements over the past several days, following multiple domestic and overseas project wins.
Project To Boost Kuwait's Crude Export
According to L&T, the project includes the EPC of six crude oil storage tanks, each with an operating capacity of 618,000 barrels, along with associated facilities on a lump-sum turnkey basis.
The scope also covers the installation of new pipelines and upgrades to Kuwait's existing crude loading and export infrastructure to support higher production levels and improve the country's crude handling capacity, the company said.
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Commenting on the order, ES Sathyanarayanan, Senior Vice President & Head of L&T Energy Hydrocarbon Onshore and Member of the Divisional Board – L&T, said, "The development of the Jurassic Light Oil export infrastructure is an important investment in Kuwait’s energy sector and we are committed to supporting the country’s energy ambitions through reliable and world-class project execution".
Recent Overseas Wins And Results
The latest contract follows another significant international order announced on Tuesday. L&T said it had entered into an "ultra-mega" framework cooperation agreement with Dutch transmission system operator TenneT, alongside Hitachi Energy, for its 2 GW offshore wind programme covering multiple projects in the Netherlands and Germany.
Investor sentiment also received support from L&T's June-quarter earnings. While the company posted a mixed operating performance with EBITDA below expectations, order inflows exceeded estimates.
Management retained its FY27 guidance, which analysts viewed as a positive signal for the business outlook.
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Shares of L&T reached at ₹3,972 on Wednesday's early trade and was trading about 2.5-3% higher till the time of the reporting.