L&T Construction bags order worth Rs. 1,070 cr

Larsen & Turbo has won order for Rs. Rs. 1,070  crore. The Railway Business Unit, a part of the Transportation Infrastructure business of UH Construction, has won a major breakthrough railway order worth  Rs. 1070, crores (USD 161.37 Mn) in the Kingdom of Saudi Arabia. The order is from BACS consortium (Bechtel - Almabani - CCC - Siemens) for the construction of Ballastless Tracks for Riyadh Metro Lines -1 8: 2 on a Design 8: Build basis. This order has been won against stiff international competition and is in sync with L&T's strategy to expand their Railway Business into the Middle- East.

The project involves the construction of 62.86 KMs of double ballastless tracks in tunnels, viaducts, at­grade sections and three depots. The project is scheduled to be completed in 40 months.

The Transportation Infrastructure business comprises roads, runways (airside infrastructure) and elevated corridors, railways construction, railways systems and international infrastructure. It has grown steadily over the years and secured prestigious orders in the railways and roads segments. The business team has vast experience in project management , engineering design ft construction management which gives it a competitive edge. The business has a pan-India presence and is also present in GCC countries with multiple projects.

At 10:09 AM, the stock of the company is trading at Rs. 1,579. The stock is trading down 1.6% from its previous close which was at Rs. 1605. It hit a high at Rs. 1588 and low at Rs. 1564. The total traded quantity is 57,000 and two-week average quantity is 2.20 lakh.

Meanwhile, the BSE Sensex is down 216 points at 26,067.