L&T wins UAE orders worth $639m
Mumbai, August 7, 2011
Indian engineering and construction conglomerate Larsen & Toubro said on Sunday it had received two major orders from the UAE worth $639 million recently.
The orders were among the three overseas contracts worth $889 million the company received recently, it said.
The first order from Abu Dhabi Gas Industries is a pipeline project worth $189 million and the second order, to build towers, bridges and pipelines worth $450 million, is from a UAE-based oil and gas firm, the Indian company said in a statement.
The third pipeline order worth $250 million is from Thailand based PTTEP International , the statement added.
Shares of Mumbai-based L&T, which have fallen 18 percent since the start of 2011 compared to a 16 percent fall in the main index , ended down 0.6 percent at 1,638.65 rupees, on Friday. - Reuters
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