Larsen & Toubro has bagged an order worth $1.4 billion (Rs 8,250 crore) from ArRiyadh Development Authority, Kingdom of Saudi Arabia for the design, construction and commissioning of a metro project in Riyadh, Saudi Arabia, the Mumbai-headquartered engineering major said Monday.
The project would be executed by the heavy civil infrastructure business unit of the construction division of L&T. L&T bagged the project as a part of a consortium that included Ansaldo STS of Italy, Bombardier Transportation of UK, Impregilo S.p.A of Italy, Nesma & Partners of Saudi Arabia. The total value of order is $5.94 billion (approximately Rs 35,000 crore), of which the job to be done by L&T is worth $1.4 billion.
The project will be executed in four years, which will be preceded by eight months to prepare the detailed designs and to carry out the enabling works, the coordination for utilities diversion and the site preparation works. Upon completions, the consortium would have four months for system demonstration, trial runs and project handing over. The scope of the order entails design, construction and commissioning of a 41 km-driverless train operation that can carry around 5,000 passengers every hour.
“This order was won against stiff global competition. It aligns well with L&T’s expansion plans in the international arena,” the company said in a release.
At 12:40 IST, shares of L&T were trading at Rs 853 on the Bombay Stock Exchange, up around 0.9% from Friday. (Source:ET)