L&T bags Rs 329 cr orders from IOC, BRPL

MUMBAI: Engineering and construction major Larsen & Toubro Ltd has bagged four major orders worth Rs 329 crore from the Indian Oil Corporation Ltd and Bongaigaon Refinery & Petrochemicals Ltd for their ongoing expansion projects.

The orders would be executed by L&T's Heavy Engineering Division, the company informed the Bombay Stock Exchange.

One of the secured orders involves designing, manufacturing and supplying two ethylene oxide reactors, involving special tubes made of Duplex Stainless Steel. Ethylene oxide reactors are an extremely critical part of the Mono-Ethylene Glycol unit in a petrochemical plant.

The other orders are for critical reactors for the Diesel Hydrotreating units of IOC and BRPL refineries.

The reactors are made up of special grade steel, 'Cr-Mo-V', of thickness as high as 168 mm. Each of these reactors would weigh between 350 MT to 500 MT.

"We are expanding our manufacturing facilities at Hazira in Gujarat to cater to the demand. Currently, our exports account for around 50 per cent of the Division's turnover. We expect this to increase further," Senior Executive Vice President (Heavy Engineering) M V Kotwal stated.

The shares of Larsen & Toubro closed at Rs 2,263, up 0.89 per cent at the BSE.