Larsen & Toubro (L&T) has won order from Saudi Arabia, valued at over US$ 600.34 million (Rs. 5,000 crores) for power generation and water systems.
As per the official statement, L&T has been selected as the turnkey Engineering, Procurement, and Construction (EPC) contractor for the AMAALA project in the Red Sea region of Saudi Arabia. This project includes establishing various systems related to renewable energy generation and utilities. AMAALA is situated in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia’s northwestern coast, is an ultra-luxury destination.
The exact value of the order win has not been disclosed by the firm, however, the statement indicates a valuation falling within the range of US$ 600.34 million (Rs. 5,000 crores) to US$ 1.20 billion (Rs. 10,000 crores).
The firm disclosed that consortium comprising the clean energy leaders of the United Arab Emirates, Masdar, and the French electricity utility EDF has executed the concession agreement for this fully integrated utility project with AMAALA’s developers. L&T has formally entered into an EPC agreement with the project sponsors, EDF and Masdar.
