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L&T Heavy Engineering wins multiple "significant" orders in December quarter
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L&T Heavy Engineering wins multiple "significant" orders in December quarter
Jan 9, 2023 6:17 AM

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In its quarterly update released on Monday, industrial conglomerate Larsen and Toubro Ltd. (L&T) said that its heavy engineering division won multiple orders in the December quarter.

Although the company did not disclose the total value of the orders, it indicated that they were of a ‘significant’ size. Notably, the company categorises orders worth Rs 1,000-2,500 crore as ‘significant’.

Giving details of some of the overseas orders, the company said that L&T Heavy Engineering secured orders for one of the heaviest reactors and screw plug heat exchangers for a refinery in Mexico.

The business also secured orders for the supply of critical reactors and vessels for blue ammonia projects in the United States and Uzbekistan.

It also bagged strategic orders for process plant equipment from a European client.

Also Read: Larsen and Toubro, CPP to sell joint venture company to Edelweiss infrastructure fund

On the domestic front, L&T Heavy Engineering secured orders to manufacture critical residue upgrading reactors and to design and manufacture high-pressure screw plug heat exchangers with complex Cr-Mo-V steel material for Indian Oil Co. Ltd.’s Panipat Refinery P25 Expansion Project.

Further, L&T Heavy Engineering’s Modification, Revamp, and Upgrade (MRU) business segment won an order to revamp a plant on an EPC (engineering, procurement, and construction) basis. The objective of the revamp was to improve the reliability and safety of a plant that is more than 50 years old, increase its capacity, and enhance its energy efficiency to meet the government’s stipulated norms.

Additionally, the business secured a repeat order from a reputed fertiliser manufacturer for the fabrication and installation of steam superheater coils.

Shares of L&T Ltd. are trading 1.71 percent higher at Rs 2,122.15.

Also Read: L&T wins 'significant' orders for its hydrocarbon business

(Edited by : Rukmani Krishna)

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