L&T Heavy Engineering secures ₹2,500-5,000cr Dangote refinery and fertilizer orders
Business
L&T's Heavy Engineering arm just scored major international orders worth ₹2,500-5,000 crore each.
Highlights include projects for Africa's Dangote Group in Nigeria and Ethiopia: think huge refinery and fertilizer plants using the world's largest fluid catalytic cracking reactor regenerator package, along with urea and ammonia systems.
L&T global contracts, shares down 10%
The team also landed a repeat order from a Japanese client for LNG project gear in Canada, plus new contracts for coke drums and heat exchangers from Spain, the US and Brazil.
On the home front, L&T recently secured even bigger domestic orders (₹10,000 to 15,000 crore) in metals and mining, but despite all this action, its stock has dipped 10% over the past month.