L&T secures $480 million worth orders from Bangladesh

Discussion in 'Economy & Infrastructure' started by cobra commando, May 28, 2014.

  1. cobra commando

    cobra commando Tharki regiment Veteran Member Senior Member

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    Mumbai: Engineering and construction company Larsen and Toubro Ltd (L&T) on Wednesday said it has received two EPC (engineering, procurement and construction) orders valued at around $480 million for setting up dual fuel- fired gas-based combined cycle power plants in Bangladesh. The orders come after L&T, India’s largest engineering and construction company, tweaked its strategy to chase more foreign orders in order to shield itself against potential rivals in the home market. The company plans to raise the share of international orders to one-fourth of all new orders by value from the current one-fifth. The company said it beat off competition from European, Japanese, Korean and Chinese rivals to bag the orders. One order of approximately $280 million has been received from Marubeni Corp., Japan, for setting up a 360 MW Bheramara Combined Cycle Power Plant Development Project of North West Power Generation Co. Ltd (NWPGCL) in Bangladesh. NWPGCL, a fully owned enterprise of Bangladesh Power Development Board, is currently developing around 750 MW of gas-based power plants in the north-western region of Bangladesh and has awarded the contract to set up the 360 MW Bheramara project in Khulna Division of Bangladesh to Marubeni, which has in turn awarded the EPC job to L&T on a turnkey basis. The order was bagged by L&T against stiff global competition from Japanese and European companies, the company said in a statement.


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    L&T secures $480 million worth orders from Bangladesh - Livemint
     
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  3. SajeevJino

    SajeevJino Long walk Elite Member

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    :thumb: Bravo L&T We Proud of You
     

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