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Thursday, Jan 26, 2006


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Corporate - Announcements

L&T-Samsung Heavy consortium bags ONGC order

Our Bureau

Mumbai , Jan. 25

LARSEN & Toubro Ltd (L&T) told the stock exchanges here on Wednesday that a consortium formed by it and Samsung Heavy Industries Co Ltd, Korea's ship building, offshore construction and engineering company, has bagged a $456-million (Rs 2,117 crore) order from Oil and Natural Gas Corporation Ltd (ONGC) for the Vasai East development project.

The project is to be executed in about two years.

As a consortium partner, L&T will execute jobs worth around Rs 776 crore.

The Indian company's scope includes engineering, procurement, onshore fabrication and transportation of booster and compression modules. Samsung Heavy Industries will execute the balance process platform facility for the project.

Fully assembled and pre-tested compressor modules for the project will be delivered from L&T's fabrication facility at Hazira, which was expanded recently to meet the growing needs of the energy sector in India and abroad. The company is developing over 100 acres of additional facility for expansion of its Hazira complex.

The Vasai East development project, situated some 80 km off Mumbai, will incorporate new booster compressors and a process facilities platform. The project will have oil-handling capacity of 4,200 barrels a day, gas-processing facility of 12 cubic metres a day and water injection of 47,000 barrels a day.

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