Larsen and Toubro wins order worth over Rs 2,500 crore from Kuwait Oil Company

Infrastructure major Larsen and Toubro reported new orders worth over Rs 2,500 crore from Kuwait Oil Company (KOC).

The new contract includes construction of a new export strategic pipeline and its associated facilities that will span a distance of around 145 kilometres.

The contract has been awarded through international bidding on a Lump Sum Turnkey basis, the company said in a statement.

Lump Sum Turnkey contract is a contractual agreement in which a fixed price is agreed for the execution of project or a part of the project. Once the final development is completed, a finished functioning asset is handed over to the client.

Currently, L&T is executing a 48-inch crude transit line from North Kuwait to Central Mixing Manifold  located near Ahmadi city in Kuwait.

L&T, headquartered in Mumbai is one among the largest multinational firms and construction company in the country today with operations in more than 30 countries worldwide.