Larsen & Toubro’s (L&T) shares traded flat on July 1, despite its vertical Larsen & Toubro’s (L&T) Energy Hydrocarbon (LTEH) recently winning a significant contract from the Oil & Natural Gas Corporation (ONGC) for the eighth phase of the Pipeline Replacement Project (PRP-VIII Group B) offshore the west coast of India.

According to the company’s recent regulatory filing, this order includes designing, buying, building, installing, and setting up 129 kilometres of underwater pipelines and making associated changes in the offshore fields of ONGC along India’s west coast.

Mr. Subramanian Sarma, full-time director & President – of Energy, L&T, talked about the award, saying that it shows ONGC’s continued trust in L&T, which proves L&T’s successful track record in completing complex projects at sea and their strong dedication to India’s energy needs.

LTEH offers complete design-to-build solutions for the hydrocarbon industry for both Indian and international clients. It offers through its divisions including Offshore, Onshore EPC, Modular Fabrication, Advanced Value Engineering & Technology (AdVENT), and Offshore Wind Farm Business Groups.

With over three decades of experience, LTEH has set global standards in project management, corporate governance, quality, health safety environment (HSE), and operational excellence.

Larsen & Toubro is a USD 27 billion Indian multinational company. L&T is focused on EPC Projects, Hi-Tech Manufacturing, and Services across various geographical locations. L&T has been committed to delivering high-quality products and services for over eight decades and has established a leadership position in its major lines of business.

At 3:30 pm, the shares of L&T traded 0.57% lower at Rs 3,528.20 on NSE.