India’s largest building company, L&T, got orders worth over $4 billion from Saudi Aramco. This made L&T’s shares go up by over 2.5% in the morning on July 2.
The order, worth Rs 35,000 crore, is for Aramco’s gas compression systems. Saudi Aramco has a big $110-billion gas project in the eastern part of the country. The L&T order is part of Saudi Aramco’s $25 billion contracts for engineering and building work, given out on June 30.
L&T has not yet confirmed the news. Moneycontrol also hasn’t checked this information yet but will update the story when L&T makes an official statement. According to the report, L&T got two parts of the order from Saudi Aramco.
The first part is for a gas processing plant, worth $2.9 billion. The second part is a $1 billion order for gas compression units. Both orders are for L&T’s energy hydrocarbon division. Other companies also got big orders, like Hyundai Engineering from South Korea and Tecnicas Reunidas from Spain.
Last September, L&T got two other big orders from Saudi Aramco worth nearly $4 billion, also for the Jafurah gas project. The Jafurah basin in Saudi Arabia has the largest shale gas field in the Middle East, with about 200 trillion cubic feet of gas.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.