L&T wins Rs5,300 crore ONGC offshore deal
Larsen & Toubro (L&T) has bagged contracts worth Rs5,300 crore to build offshore platforms for ONGC staving off competition from other majors like Samsung, Hyundai and NPCC . This is also the first time that L&T is going to build integrated offshore platforms on its own.
The contract assumes significance coming at a time when engineering companies have said that orders were drying up and those from the hydrocarbon sector had almost stopped as a fall in crude oil prices had led to a contraction in capex plans in the hydrocarbon sector.
According to K Venkataramanan, president operations, L&T, the ONGC contract will involve over 5,000 to 6,000 employees. This number would include staff in engineering, procurement and a large number of skilled workmen at Hazira and Oman, where the structures for the platforms will be fabricated.