L&T Poised To Secure Substantial Construction Deal In Middle East
Larsen and Toubro (L&T) are in the spotlight as reports suggest that the company is in a favourable position to secure a substantial construction deal. The company has been consistently receiving large orders from the Middle East, particularly in the hydrocarbon segment. International reports and publications are buzzing with news that L&T is well-placed to secure a significant order. The focus is on Saudi Aramco, which is reportedly close to finalising the decision on a $5 billion tender. This tender aims to select the contractors for the construction of the world's largest oilfield, and L&T is one of the bidders in consideration. According to the reports, L&T stands a good chance of winning at least one major bid in this tender. This development is noteworthy, considering L&T's success in securing substantial orders from the Middle East in FY24. Moreover, Aramco has already reviewed and vetted preferred bidders for two substantial onshore engineering, procurement, and construction (EPC) contracts at Safaniya. If this potential deal materialises, it could be a game-changer for L&T. Not only would it enhance the company's standing in the international market, but it could also surpass the significant orders it secured in FY24.
Tags : Larsen and Toubro hydrocarbon segment international market engineering procurement construction contracts Safaniya Middle East