L&T subsidiary secures ‘significant' orders ahead of Q1 earnings

Larsen and Toubro Ltd. (L&T), a prominent engineering and infrastructure conglomerate on Tuesday said that its Power Transmission and Distribution Business has secured new contracts both in India and abroad.

According to a regulatory filing on BSE, L&T disclosed that the recent orders encompass an advanced distribution Supervisory Control and Data Acquisition (SCADA) project within India and a High Voltage Direct Current (HVDC) transmission link in the Middle East.

The company's power transmission and distribution vertical secured a domestic order to implement SCADA (Supervisory Control and Data Acquisition) technology along with related IT infrastructure for power distribution systems in central Gujarat.

Furthermore, company secured another major contract for constructing a 400kV double circuit transmission line spanning up to 133 kilometers in Jharkhand. This transmission line is pivotal in distributing power from a generating station.

Moving overseas, the business has received order for construction of a ±525kV High Voltage Direct Current (HVDC) transmission segment in the Middle East. This link is part of a large capacity, Voltage Source Converter (VSC) based HVDC system that connects Neom Industrial City and Yanbu city in western Saudi Arabia. 

In the Sarawak region of Malaysia, the Business has bagged an order, in a consortium, to establish a 275kV Substation. Once completed, the project will help improve power supply reliability in major load centers on the northwest coast of the island of Borneo 

Shares of L&T will be in focus on Tuesday as the company board considers a share buyback proposal, along with its June quarter results later today. The company board will also consider a proposal of special dividend. 

The shares of the L&T were trading 1.2 per cent lower at Rs 2573.95 at the time of writing this article.

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