L&T rises as its division inks pact with ACWA Power to build Ras Mohaisen Desalination plant
Larsen & Toubro is currently trading at Rs. 3200.00, up by 6.10 points or 0.19% from its previous closing of Rs. 3193.90 on the BSE.
The scrip opened at Rs. 3213.70 and has touched a high and low of Rs. 3233.95 and Rs. 3184.00 respectively. So far 195326 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3963.00 on 10-Dec-2024 and a 52 week low of Rs. 3141.30 on 28-Feb-2025.
Last one week high and low of the scrip stood at Rs. 3289.50 and Rs. 3153.65 respectively. The current market cap of the company is Rs. 440111.01 crore.
The Institutions and Non-Institutions held 62.66% and 37.35% stake in the company respectively.
Larsen & Toubro’s (L&T) Water & Effluent Treatment Business along with Lantania of Spain has signed a contract with ACWA Power, a major developer in the Middle East to build the Ras Mohaisen Desalination plant in the Kingdom of Saudi Arabia. The company’s division had won the order in a joint venture with Lantania of Spain, wherein it happens to be the lead partner.
The project’s scope includes design, procurement, construction, testing and commissioning of a seawater reverse osmosis desalination plant. It encompasses intake and outfall facilities, process units, pumping stations, 600,000 cubic meters potable water storage facility, electrical special facility and associated works along with state-of-the-art automation and instrumentation systems. A Solar PV plant is also part of the project scope.
The plant will serve as a drinking water source for Makkah Al-Mukarramah and Al-Baha regions, benefiting about one million population. This is the second desalination order that L&T has received in Saudi Arabia in the recent past and it strengthens the company’s division presence in the Middle East region. This large order underscores the company’s division resolve to expand its regional footprint across all neighboring and business-conducive geographies.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
