Shares of Larsen & Toubro rose as much as 3.03% intraday to ₹3,948, gaining ₹116, after the engineering conglomerate announced its Energy Hydrocarbon Onshore business had won a ‘major’ EPC order from Kuwait Oil Company (KOC) for the Jurassic Light Oil (JLO) export facilities and upgrades to the country’s existing crude export network.
L&T new order win: Order scope
The engineering, procurement and construction (EPC) contract covers six new crude oil storage tanks, each with an operating capacity of 618,000 barrels, along with associated facilities, on a Lump Sum Turnkey basis.
The scope also includes new pipelines and comprehensive upgrades to Kuwait’s crude loading and export infrastructure to support higher production volumes.
Under L&T’s own order-value classification disclosed in the release, a “Major” order is valued between ₹5,000 crore and ₹10,000 crore — the band L&T uses to size this win, though the company has not disclosed an exact contract value.
Management commentary
E S Sathyanarayanan, Senior Vice President & Head of L&T Energy Hydrocarbon Onshore and Member of the Divisional Board, said: “We are pleased to be entrusted with this major strategic project by Kuwait Oil Company. The development of the Jurassic Light Oil export infrastructure is an important investment in Kuwait’s energy sector and we are committed to supporting the country’s energy ambitions through reliable and world-class project execution.”
Why the L&T stock moved
Large order wins in L&T’s core EPC hydrocarbon business are typically read by the market as a signal of order-book strength and revenue visibility, given the scale of Gulf energy infrastructure spending.
The KOC win adds to L&T’s Energy Hydrocarbon Onshore vertical, which has an established track record in refinery expansions, petrochemical complexes, gas processing plants, LNG terminals, fertiliser plants and cross-country pipeline projects across global markets.
L&T is a USD 32 billion Indian multinational with operations spanning EPC projects, hi-tech manufacturing, products and services across multiple geographies
