Key Developments: Larsen & Toubro Ltd (LTOUF.PK)
24.25USD
14 Jun 2013
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$24.55
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Latest Key Developments (Source: Significant Developments)
Larsen & Toubro Ltd Eyes Defence Orders Worth Up To INR80 million-Business Standard
The Business Standard reported that Larsen & Toubro Ltd is competing for defence contracts worth up to INR80 million that will be awarded in the next few months. It has bid for four contracts from the Indian coast guard to supply training ships and support vehicles, worth about INr40 million in total. The orders are likely to be finalised in the next six months. The government is planning to offer contracts to build four multipurpose landing platform docks, two of which will be given to private-sector firms. A request for proposals for the docks will be finalised in the next few months. Full Article
Larsen & Toubro Ltd And Sojitz Corp Bags INR67 Billion Freight Corridor Contract-Business Standard
Business Standard reported that Larsen & Toubro Ltd and Sojitz Corp has bagged an order of INR66.99 billion from the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL). The contract is to construct 626 kilometres (km) of a double-track corridor from Rewari in Haryana to Iqbalgarh in Gujarat via Rajasthan, across three states. The project is expected to be complete in four years. In a filing to the Bombay Stock Exchange (BSE), L&T said the order had been secured by the railways strategic business unit of L&T Construction's Transportation Infrastructure Business. "The track will be designed for 25 mt axle-load to run double-stack containers dedicated for freight. Around 1.5 lakh mt of rails will be imported from Japan for this project. The scope of work includes construction of 1,400 track km of railway line, 50 major and 1,250 minor bridges, 20 station along with supply of all associated equipment. Full Article
Larsen & Toubro Ltd Secures INR6700 Crore Western Dedicated Freight Corridor Project
Larsen & Toubro Ltd announced that the Railways Strategic Bussiness Unit of L&T Constructions Transportation Infrastrucyure Business has won an order worth INR6699.50 Crore (INR66.995 Billion) from the Freight Corridor corporation of India Ltd. The EPC order involves construction of 626 km of a double track corridor from Rewari in Haryana tolqbalgarh in Gujarat, via Rajasthan spanning three states. The Project is expected to be completed in four years. Full Article
Larsen & Toubro Ltd's L&T Construction Receives Orders Valued INR2002 Crore (INR20.02 Billion)
Larsen & Toubro Ltd's L&T Construction announced that it has won new orders worth INR2002 Crore (INR20.02 Billion) across various business segments in May and June 2013. The building and factories business has bagged orders worth INR528 crores (INR5.28 billion) for construction of office buildings at Bangalore and Ahmedabad for customers. The water and renewable energy business has secured orders worth INR806 crores (INR8.06 billion) is for the turnkey EPC of a solar photovoltaic power plant in Tamil Nadu. In the transportation infrastructure business, the Company has bagged orders worth INR451 crores (INR4.51 billion). Orders are for design, detail engineering, testing and commissioning of 25KV AC traction, 33KV auxiliary sub stations, associated cabling and SCADA systems. In power transmission and distribution business new orders worth INR217 crores (INR2.17 billion) have been received. The orders are from Delhi Metro Rail Corporation Limited for supply, testing, installation and commissioning of E&M fire detection and fire suppression system of elevated stations of Delhi MRTS project- Phase 3. Full Article
Larsen & Toubro Ltd's Joint Venture Secures Saudi Aramco Contract
Larsen & Toubro Ltd announced that a joint venture of the Company Larsen Toubro Arabia LLC, has bagged a EPC contract from the Saudi Arabian Oil Company (Saudi Aramco). The contract is for setting up gas processing facilities for the Midyan Gas Fields, with a capacity to treat 75 MMSCFD of gas and 4500 BPD of condensate, and the laying of over 90 km of gas and condensate product pipelines. The project is scheduled to be completed in 37 months. The scope of the contract includes project management, detailed engineering, procurement, supply, fabrication, manufacturing, inspection, transportation, construction, installation, testing, mechanical completion, pre-commissioning, commissioning assistance including performance testing. Full Article
Larsen & Toubro Ltd Approves Scheme Of Arrangement
Larsen & Toubro Ltd announced that the Board of Directors at its meeting held on May 22, 2013, have approved a Scheme of Arrangement between the Company and L&T Hydrocarbon Engineering Ltd, a wholly owned subsidiary of the Company (LTHE) and their respective Shareholders and Creditors which inter alia envisages business transfer of the Hydrocarbon Independent Company undertaking along with related assets and liabilities of into LTHE and other consequential matters under the provisions of Sections 391 to 394 of the Companies Act, 1956. Full Article
Larsen & Toubro Ltd Recommends Dividend
Larsen & Toubro Ltd announced that the Board of Directors at its meeting held on May 22, 2013 has recommended a dividend of INR18.50 per share (previous year INR16.50 per share) and the Company will arrange to pay the same on August 26 2013. The above referred final dividend of INR18.50 per share is pre-bonus dividend per share on the existing capital (pre bonus share capital). Accordingly, the post-bonus dividend per share works out to INR12.33 per share. Full Article
Larsen & Toubro Ltd's Board Approves Bonus Issue
Larsen & Toubro Ltd announced that, to commemorate the occasion of the platinum jubilee of the Company, the Board of Directors of the Company in its meeting held on May 22, 2013, has recommended for approval of the shareholders issue of bonus shares to the holders of equity shares of the Company in the ratio of 1:2 (that is one bonus equity share of INR2 each for every two fully paid up equity shares of INR2 each held). Full Article
Aramco Awards Midyan Gas Project To Larsen & Toubro Ltd-Business Standard
Business Standard reported that State run Saudi Aramco has awarded Larsen & Toubro Ltd a contract to build facilities including a gas processing plant for its Midyan gas field, state news agency SPA reported. The Company will build a plant with a processing capacity of 75 million standard cubic feet per day (scfd) of non-associated gas and 4,500 barrels of condensate per day, the agency quoted Fahad al-Helal, executive director of project management at Aramco, as saying. The project is due to be online mid-2016, SPA added. Full Article
Sunteck Realty Awards Construction Contract To Larsen & Toubro Ltd For Sunteck City
Sunteck Realty Ltd has awarded the construction contract to Larsen & Toubro Ltd (L & T). This contract is specifically for the company’s Goregaon project Sunteck City that is spread over an expanse of 23 acres. Sunteck’s Goregaon project ‘Sunteck City’ includes 6million sq.ft of mixed used development that will be launched in multiple phases. L & T has recently commenced construction activity on Avenue 1 – the first set of development. Avenue 1 includes approx 400 apartments and is spread over 1million sq.ft of built up area. Full Article
Altia buys Larsen Cognac for $53 mln
HELSINKI, June 10 - Finnish liquor maker Altia has agreed to buy cognac house Larsen S.A. and its brand from Remy Cointreau for around 40 million euros ($53 million) to boost growth.
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