L&T Bags $1.5 Billion EPC Contract from Saudi Aramco

24 Feb 2025 , 09:34 AM

Larsen & Toubro (L&T) announced that its Energy Hydrocarbon (LTEH) division has secured the main Engineering, Procurement and Construction (EPC) contract from Saudi Aramco for Phase 1 of its proposed Carbon Capture & Storage (CCS) hub.

The contract is valued at roughly USD 1.5 billion and falls within Aramco’s Accelerated Carbon Capture & Sequestration (ACCS) program to reduce carbon emissions and augment the company’s CCS capacity. Phase 1 of the project is an important component of Aramco’s drive to reduce its carbon footprint and solidify its position in the global energy transition.

L&T’s order book at the end of Q3 FY25 was ₹5.46 lakh crore, marking a 20% year-on-year (YoY) growth. Though L&T has a good order book, it sees lower order prospects for Q4 FY25, with its projected orders at ₹5.51 lakh crore (down 12% YoY from ₹6.72 lakh crore in Q4 FY24).

In the National Stock Exchange, shares of L&T is currently trading at ₹3311.40 on February 24, 2025, which is a 0.11% dip than the previous close. Larsen & Toubro stock has witnessed a total of 4.57% dip in the last one year, and 4.24% dip in the last one month.