L&T Bags Massive $4 Billion Order from Saudi Aramco

L&T shares rose over 2% after securing a $4 billion contract from Saudi Aramco for the Jafurah Gas project.

Major Contract Win

The $4 billion order involves developing gas compression systems as part of Aramco's $110 billion Jafurah project.

Stock Performance

L&T's stock price increased by 2.61% to ₹3619.70 on July 2 following the contract news.

EPC Contracts

L&T secured two key packages: a $2.9 billion gas processing plant and a $1 billion gas compression unit contract.

Global Competitors

Other winners of Saudi Aramco's $25 billion EPC contracts include Hyundai Engineering and Spain's Tecnicas Reunidas.

ONGC Order Win

L&T also won an ONGC contract for a pipeline replacement project, reinforcing its commitment to India's energy needs.