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L&T Construction wins significant power transmission orders in Saudi Arabia

L&T Construction wins significant power transmission orders in Saudi Arabia

L&T Construction wins significant power transmission orders in Saudi Arabia
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By CNBCTV18.com Oct 31, 2022 2:55:21 PM IST (Published)

The company classifies those orders ranging between Rs 1,000 crore and Rs 2,500 crore as 'significant.'

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Larsen and Toubro Ltd. (L&T) shares jumped over 2 percent in trade on Monday after it announced that its construction division has secured multiple Engineering, Procurement, and Construction (EPC) orders to build transmission lines and substations in Saudi Arabia.


The company classifies those orders ranging between Rs 1,000 crore and Rs 2,500 crore as 'significant.'

The business will undertake engineering, design, procurement, and construction of more than 400 kilometers of 380kv Overhead Transmission Lines and a new 230kv Gas Insulated Substation with associated automation and protection systems.

The transmission network will help Saudi Arabia towards attaining an optimal generational mix as envisaged in its strategic vision for 2030.

These orders are repeat orders from the largest electric energy system provider in the Middle East & North Africa (MENA) region.
Shares of Larsen & Toubro are trading 2.3 percent higher ahead of its September quarter results today.
A strong order backlog and a softer commodity environment are likely to aid Larsen & Toubro's September quarter earnings performance.
According to a CNBC-TV18 poll, the company's net profit may grow in excess of 20 percent from last year while revenue and operating profit may grow in double-digits and high-single-digit respectively. Margin is likely to remain flat.
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