L&T gained 2.05% to Rs 1340.55 after the company s subsidiary L&T Hydrocarbon Engineering won a large offshore contract from ONGC for their new living quarter and revamp at NQ Complex.
The contract involves engineering, procurement, construction, installation and commissioning of a new living quarter platform, NQL Platform of 120 men capacity, bridge (with intermediate support) to existing NQO Complex and major revamping / replacement of existing process systems / facilities at NQ Complex in ONGC s Mumbai High Asset on the West Coast of India.
The above contract was awarded through international competitive bidding on a Lump Sum Turnkey (LSTK) basis. As per L&T s classification, the value of the contract lies between Rs 2,500 and Rs 5,000 crore.