By IANS
New Delhi : Private engineering and construction firm Larsen & Toubro Ltd (L&T) will build civil infrastructure and undertake electromechanical work worth Rs.13 billion ($300 million) for Cairn India’s oilfield development project in Rajasthan, the company said Monday.
“The company has bagged orders of over Rs.13 billion from Cairn India in an international competitive bidding,” L&T informed Bombay Stock Exchange Monday.
“It has agreed to complete the project in 18 months,” the company said.
“L&T is proud to be associated with Cairn in being able to leverage our own strengths to boost India’s needs of fuel resources. Our technology and dedicated team will be able to deliver the job on time,” said K. Venkataramanan, president of L&T’s engineering and construction projects and a member of the company’s board.
State-owned Oil and Natural Gas Corp (ONGC) is an equity partner in Cairn’s Mangala and Raageshwari oilfields in Rajasthan.
“The engineering and construction division of the company has been awarded two major contracts for the construction of civil works and the consolidated construction works for the northern area development project located near Barmer in Rajasthan as Cairn India and its joint venture partners ONGC get ready for first oil production in 2009,” L&T said.