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L&T has received a Limited Notice to Proceed (LNTP) from the PPP consortium developing

ICICIdirect Research 21 Oct 2026 DISCLAIMER

News: L&T has received a Limited Notice to Proceed (LNTP) from the PPP consortium developing the New Tashkent International Airport in Uzbekistan, enabling it to commence initial engineering, detailed design, procurement preparation and other pre-construction activities. The EPC contract covers construction of the passenger terminal and associated landside infrastructure designed to handle ~17 million passengers annually, including site grading, roads, structural works, MEP services, utilities and advanced airport systems. Full construction will commence after issuance of the Notice to Proceed (NTP), subject to fulfilment of contractual conditions. The order is classified as Ultra-Mega, indicating a value of over ₹15,000 crore.

View: The project strengthens L&T’s international Buildings & Infrastructure order book and reinforces its capabilities in executing large, complex airport EPC projects.  However, full-scale execution and revenue contribution remain contingent on fulfilment of contractual conditions and issuance of the NTP.

Impact: Positive

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