L&T Hydrocrbon is lowest bidder for HPCL Rajasthan Refinery contract

The stock of the construction and engineering company was trading close to its 52-week high level of Rs 1,384 touched on February 1, this year. In comparison, the S&P BSE Sensex was down 0.25 per cent at 46,767 points at 12:20 pm.

LTHE has emerged as the lowest bidder for HPCL Rajasthan Refinery Ltd's two engineering, procurement, construction and commissioning (EPCC) packages, coming up at Barmer in Rajasthan,news agency IANS reported, quoting sources.

HRRL opened the financial bids submitted by the 2 bidders (Petrofac and L&T Heavy Engineering) for Petro FCC Package and 3 bidders (Tecnimont+JGC, Petrofac and LTHE) for DFCU Package in December 2020. The combined value for both the packages will be around Rs 13,000 crore. Petrofac's bid got disqualified for both the packages, report suggested.CLICK HERE TO READ FULL REPORT

LTHE provides integrated ‘design-to-build’ turnkey solutions for the hydrocarbon industry globally. The business executes projects for oil and gas extraction and processing, petroleum refining, chemicals and petrochemicals, fertilizers, cross-country pipelines and terminals. In-house capabilities range from front-end design through detailed engineering, procurement, fabrication, project management, construction and installation up to commissioning services.

Meanwhile, L&T’s management are hopeful that the second half (October-March) of FY2020-21 will herald better economic and business activity in terms of tendering, good liquidity and revival of labour and supply chains.