L&T wins $250m business in Saudi Arabia, UAE and India

Author: ALICIA BULLERFri, 2017-12-29 03:00ID: 1514493700399662800LONDON: The Power Transmission & Distribution Business of Mumbai-headquartered Larsen & Toubro (L&T) Construction has announced orders worth $250 million.The business said it has secured an order from the Saudi Electricity Company for construction of an overhead transmission line between two substations. This is to be one of the longest lines in the Kingdom, with a route length of more than 400 km. In the UAE, orders have been clinched for design, supply, installation, testing and commissioning of three substations and associated works for the Dubai Electricity and Water Authority, Shamal Development and Meraas Development.L&T’s power transmission and distribution business has already completed 225 substations in GCC countries and 75 more are under construction. The Indian conglomerate first established operations in the Middle East four decades ago and pulls in over $17 billion of revenue annually across technology, engineering, construction, manufacturing and financial services.The GCC infrastructure industry has a robust project pipeline of $2 trillion to be awarded from 2016-2020, according to the “GCC Construction Outlook to 2020” report from BrikStats.The region is set to splurge on infrastructure in the coming years as it seeks to diversify away from oil. Saudi Arabia’s infrastructure pipeline alone is estimated at $1 billion, the report says.
Main category: Business & Economy

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