Breakout Strategy

L&T Secures Major Orders from Saudi Aramco for Jafurah Gas Project Expansion

L&T has secured over $4 billion in orders from Saudi Aramco, including work on gas compression systems. The Rs 35,000 crore contract boosted L&T shares by over 2.5% on July 2. Subramanian Sarma, Whole-time Director at L&T, confirmed the orders and expects more awards soon. The Jafurah gas project includes a $2.9 billion gas processing plant and $1 billion in gas compression units. Other winners are Hyundai Engineering and Tecnicas Reunidas. The Jafurah basin is the largest liquid-rich shale gas field in the Middle East, with 200 trillion cubic feet of gas reserves.