L&T’s hydrocarbon engineering arm secures Rs2,100-cr order

L&T Hydrocarbon Engineering Limited (LTHE), wholly owned subsidiary of Larsen & Toubro Limited (L&T), has secured a major engineering, procurement, and construction (EPC) contract of ~Rs2,100 crore, according to an India Infoline report.
 
The EPC contract is for crude distillation and vacuum distillation unit (CDU & VDU) from Hindustan Petroleum Corporation Limited (HPCL), Visakhapatnam Refinery, and an extension to an ongoing contract for Reliance Industries, Jamnagar.
 
The 9 MMTPA CDU & VDU project is part of HPCL Visakh Refinery Modernisation Project (VRMP) which involves engineering, procurement, construction and commissioning.
 
The Hydrocarbon segment contributed 9% of the consolidated revenue of the group in FY17.
 
The company has a total order book of Rs 2,57,500 crore as of September 30, 2017. Order book under Hydrocarbon segment constituted 10% of the total order book as on September 30, 2017, according to the report.
 
The stock is trading at 1264.7, up 0.62%, on the BSE at 10.25 am.