Indian engineering and construction giant Larsen & Toubro (L&T) remains positive on the prospects of new orders from West Asia after winning Rs350 billion ($4 billion) worth of contracts from Saudi Aramco for its Jafurah project, Business Standard, an Indian financial daily, reported, citing a senior company executive.  

The company, listed on the Bombay Stock Exchange (BSE), has been looking at large projects in both upstream and downstream segments, said Subramanian Sarma, whole-time director and president (energy), L&T.

He clarified that L&T had disclosed the INR350 billion Aramco order – the largest ever in the company’s history - to the BSE earlier after Dubai-based MEED reported on the win recently.  

Saudi Aramco has contributed significantly to L&T’s order book in the past year. As of March 2024, 38 percent of L&T’s INR3.02 trillion order inflow and 35 percent of its INR4.75 trillion order book were from West Asia. 

Additionally, 92 percent of its INR1.81 trillion international order book came from West Asia, the report said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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