L&T wins Rs 1,450 crore 2-yr GSPC offshore platform project

Larsen & Toubro will build an offshore platform -process and living quarters- for Gujarat State Petroleum Corporation. The platform will be commissioned at KG6 at the Deen Dayal Field from where GSPC intends to start gas production from July 2013. Earlier, L&T had got the contract to construct the wellhead platform for the development of this field. The gas field will be able to generate 6 million standard cubic metres of gas per day.

L&T will have to build this platform which will have a capacity to process 200 mmscfd of gas and 4500bpd of condensate. The mechanical completion date for the project, when the tender was floated, was March 2013 and has to be commissioned by April 2013. That translates to an approximate project completion period of about 24 months and some of the revenues from this project will accrue in 2011-12 but most of it will accrue in the year after, since the project will get completed during that year.

L&T’s share price was up by 0.7% while the Sensex was down by 0.3%, at the time of posting.

Read the press release from L&T sent to the BSE here.

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