Larsen & Toubro announced on Thursday that the Buildings and Factories business of subsidiary Larsen & Toubro Construction, has secured a Significant contract from Oilfields Supply Company Saudi owned by the Dubai based Oilfields Supply Center to design and build one of the World's largest Oil & Gas Supply Bases at King Salman Energy Park, Dammam, Kingdom of Saudi Arabia.
As per the regulatory filing, the project involves constructing industrial facilities of different sizes, an administration building, ancillary buildings, associated infrastructure and storage yards along with Civil, Structural, MEP and Architectural works.
"We thank our client, for reposing confidence in our capability to build a project of such size and scale," said M V Satish, Whole Time Director Et Senior Executive Vice President (Buildings), L&T.
Elaborating on its significance, Satish added "this project will act as a business incubator to support the oil and gas industry in the Kingdom and help accelerate industrial growth in the energy sector. It has strategic significance for L&T too, marking our future growth in such a potential-rich market like the Kingdom of Saudi Arabia."
The project is expected to be completed in 30 months.
On Sensex, L&T closed at Rs1337 per piece up by 0.4%.