L&T wins 400 MW power project in Bangladesh

Larsen & Toubro (L&T), during the closing hours of the market announced that the company, along with Samsung C&T of South Korea, has been awarded a contract to set up a 400 MW gas-based power plant in Bangladesh.
 
L&T will be executing the EPC contract for setting up Bibiyana South 400 MW combined cycle power plant project which is valued at US$ 250 million. The contract has been awarded by the Bangladesh Power Development Board (BPDB). This is the company’s fourth order in Bangladesh, thus further boosting its presence in the country.
 
Larsen & Toubro is a multinational company engaged in engineering, construction, technology, manufacturing and financial services generating revenues to the tune of US$ 17 billion.
 
 
The stock of Larsen & Toubro closed at Rs. 1,217.85 per share, up Rs. 6.15 or 0.51 per cent from its previous closing price of Rs. 1,211.7 on NSE. The scrip touched a high and low of Rs. 1,223 and Rs 1,212, respectively on NSE. The scrip attracted a traded volume of 20,46,078 shares on NSE. Following the news, the stock of L&T is expected to buzz on the bourses on Thursday.