Larsen and Toubro bags largest Brazilian equipment order worth US$ 160 Million

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Larsen & Toubro Ltd’s (L&T) Heavy Engineering Division has been awarded an order to manufacture and supply of 10 Nos Hydrotreating Reactors and 12 Nos Coke Drums for Petrobras’ prestigious 200,000 bpd Northeast Refinery Project in Brazil. The total value of the order is approx US$ 160 million. This is the largest order ever received by L&T from South America.

The Reactors will be manufactured from advanced technology steels containing Chromium, Molybdenum and Vanadium, whilst the Coke Drums will be manufactured using Cr-Mo Steel. These Reactors and Coke Drums will be delivered to the refinery in Brazil in the financial year 2010-11.

Anticipating the developments in the global hydrocarbon industry, L&T has proactively embarked on a major expansion program at its state manufacturing facility at Hazira, which is rated as one of the largest and most modem integrated manufacturing complexes situated on a water front with easy access to the sea. In addition, a new heavy fabrication facility is under construction at Sohar, Oman. This facility will be a first-of-its-kind venture in the G.C.C. region & will have the capability to manufacture critical equipment for Refineries, Petrochemicals & Fertilizer projects apart from other process industries.

The stock closed the day at Rs.2714.65, down by Rs.21.90 or 0.80%. The stock hit an intraday high of Rs.2754.90 and low of Rs.2696.

The total traded quantity was 473991 compared to 2 week average of 431492.

Source: Equity Bulls

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