Now Reading: L&T wins Rs 5,000-10,000 crore ONGC offshore pipeline orders
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L&T wins Rs 5,000-10,000 crore ONGC offshore pipeline orders
Larsen & Toubro has booked a batch of 'Major' offshore orders from ONGC, valued between Rs 5,000 crore and Rs 10,000 crore, the company said in a stock exchange filing on Thursday.…
The Story in Brief
Larsen & Toubro has booked a batch of 'Major' offshore orders from ONGC, valued between Rs 5,000 crore and Rs 10,000 crore, the company said in a stock exchange filing on Thursday. The projects, the Pipeline Replacement Project (PRP-X) and the Well Head Platforms Project, will be executed off India's west coast by L&T Energy Hydrocarbon Offshore. The work covers engineering, procurement, construction, installation and commissioning of subsea pipelines and four well head platforms.
L&T classifies orders from Rs 5,000-10,000 crore as 'Major', with higher tiers up to 'Ultra-Mega' above Rs 15,000 crore. The company said the contract reaffirms its role as a partner in India's offshore energy infrastructure, citing its four decades of experience, in-house fabrication facilities and a marine vessel fleet.
The Indian Opinion
Big-ticket EPC orders for Indian firms are routinely celebrated as national capability. Yet the narrow range of bidders and the opaque classification system, 'Major' here means Rs 5,000-10,000 crore but ONGC does not disclose the exact figure, should invite scrutiny. Is this a competitive tender or a virtual extension of L&T's decades-old relationship with the PSU? When the project timeline and final cost are published, the taxpayer will have a clearer answer.
Sources (2): economictimes.indiatimes.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
