Larsen & Toubro shares rise 3% after securing major steel project in Middle East & North Africa
In a regulatory filing, L&T said its Minerals & Metals (M&M) business has secured a «major» contract—valued between Rs 5,000 crore and Rs 10,000 crore—to develop a Pellet Plant and a Direct Reduction of Iron (DRI) Plant for a leading steel manufacturer in MENA. The project aligns with global decarbonization efforts, with L&T overseeing engineering, supply, erection, and construction.
The company has a history of executing large-scale iron and steel manufacturing projects worldwide, and this latest order would require L&T’s capabilities in delivering complex design-build steel plants, the company said. L&T’s M&M vertical provides end-to-end solutions across mining, minerals processing, industrial products, and metallurgical plants.
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