L&T wins major EPC order from Saudi Arabia

L&T wins major EPC order from Saudi Arabia

L&T Construction, the construction arm of engineering and infrastructure conglomerate Larsen & Toubro (L&T), has won a “major” engineering, procurement and construction (EPC) order from Saudi Arabia.

The firm has been chosen as the turnkey EPC contractor to establish and set up systems related to renewable energy generation and utilities for the Amaala project, the company said in a statement.

Amaala is an ultra-luxury destination set in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia’s northwestern coast. Once completed, it will house 25 hotels and 900 luxury residential villas, apartments and estate homes, among others.

A consortium of the UAE’s clean energy powerhouse Masdar and French Electricity utility EDF has signed the concession agreement for the utility project with the developers of Amaala. L&T has entered into an EPC agreement with the sponsors such as Masdar and EDF, it said.

The project awarded to L&T has an optimised off-grid renewable energy system comprising 250 megawatts peak (MWp)solar photovoltaic plant and more than 700 megawatt-hours (MWh) battery energy storage system. The scope for power systems also involves biofuel-based internal combustion engines, three gas insulated substations, high voltage transmission lines and medium voltage distribution networks.

Earlier on November 20, L&T said it won a mega contract for its hydrocarbon business from a client in West Asia. A letter of intent was issued to its hydrocarbon business unit, L&T Energy Hydrocarbon. While the company did not divulge the exact size of the contract, a mega contract for L&T is valued at about `10,000-15,000 crore. The company also did not disclose the name of the client.

Betting big on green energy, L&T had earlier announced plans to invest up to $2.5 billion in the next 3-4 years to start with, across green hydrogen, solar and wind projects.