Daily Newsletter

24 August 2023

Daily Newsletter

24 August 2023

L&T secures multiple construction orders in Middle East

L&T defined the orders as 'large', as per its own classification system.

August 24 2023

India-based infrastructure company Larsen & Toubro’s (L&T) Power Transmission & Distribution business has received new construction orders in the Middle East.

L&T has obtained an order from a prominent service provider to the energy industry in the UAE to build a 220kV gas-insulated substation and supplementary transmission lines.

In addition to this, an order for the construction of two new 132kV substations was received from a public services infrastructure business in Dubai, UAE.

The company secured a contract for the construction of a 220kV overhead transmission line in the region.

In Kuwait meanwhile, the company has been awarded an order for the turnkey construction of four new 132kV substations in the Al Sabah Medical District.

The scope of this project includes the installation of automation, protection, control, and communication systems, as well as related civil and mechanical works.

L&T has also secured additional orders for its ongoing projects in both Qatar and Saudi Arabia.

L&T did not disclose the actual amount of these power infrastructure deals from its key Gulf Cooperation Council markets; however, it defined them as ‘large’ as per its classification.

The company classifies orders as large if they are worth between Rs25bn ($301m) and Rs50bn.

Earlier this week, L&T Energy Hydrocarbon was contracted to build a urea plant in Australia.

ESG 2.0 will be less forgiving of poor ESG performers, especially on environmental issues

While ESG 1.0 was driven by voluntary corporate action, ESG 2.0 is being driven by a new wave of government policies. A host of new environmental laws are in the pipeline, relating to mandatory reporting, carbon pricing, and carbon import tariffs, as well as more state support and investment in clean energy technologies. Companies unprepared for ESG 2.0 face higher costs and lost sales.

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