- 20 Apr 2022
- ICICIdirect Research
LARSEN TOUBRO AWARDED SIGNIFICANT CONTRACTS FOR INTERNATIONAL ARM
LT - 3238 Change: -26.00 (-0.80 %)News: L&T Construction has been awarded significant (Rs1,000-2,500 crore) contracts for its international arm of the water & effluent treatment business from a prestigious client to construct and commission water supply schemes for various towns in Tanzania. The aggregate scope of work comprises design & construction of raw water intake systems, storage tanks, water treatment plants of a total capacity of 71 MLD, 5 clear water reservoirs, pumping stations, 263 km of pipeline and associated electromechanical works. In addition, the business has also secured add-on domestic orders from the Uttar Pradesh State Water &. Sanitation Mission to implement various rural water supply projects under the Jal Jeevan Mission to provide Functional House Tap Connections (FHTC) in the state
Views: L&T remains the best way to play the capex recovery theme in India given its strong execution capability, presence across diverse sectors and geographies which makes it less vulnerable during down cycles. Reducing debt makes it an attractive portfolio bet to ride the infrastructure and manufacturing cycle revival theme
Impact: Positive