L&T informed the exchanges via a press release that in a major international competitive bidding process, the Metallurgical & Material Handling Strategic Business Group of L&T Constructions has been awarded an order by Etihad Rail Company PJSC for the Design and Build of Freight Handling Facilities at 7 strategic locations across United Arab Emirates.
The stock is trading higher by 1.25% on the BSE in trade today.
Etihad Rail Company PJSC has been established under the Federal law of UAE, with the mandate to manage the Development, Construction and Operation of the UAE’s national freight and passenger railway network.
This Design and Build Contract for Freight Facilities Package has been bagged against stiff international competition and is a major breakthrough project for L&T in the Stage-2 expansion phase of Etihad Rail. This project will be executed in Joint Venture with Power China.
The scope of work involves Design, Engineering, Procurement, Construction & Commissioning of Bulk Material handling systems (Rail loading and unloading systems) with associated civil and structural works, bulk material storage facilities, general cargo and container handling facilities with freight terminal management & control systems.
All the freight stations will include railway siding and track works apart from other infrastructure works such as bridges, buildings, roads & drains, water and electricity utility systems.
Stock view:
Larsen & Toubro Ltd is currently trading at Rs1,302.50 up by Rs15.8 or 1.23% from its previous closing of Rs1,286.70 on the BSE.
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