The order has been secured by ArRiyadh New Mobility Consortium where L&T is a JV partner. Other partners in the consortium are Ansaldo STS, Italy, Bombardier Transportation Ltd, UK, Impregilo S.p.A., Italy, Nesma& Partners- Saudi Arabia. The total order is worth Rs 35,000 crore, said L&T in a filing to the BSE on July 29, 2013.
According to the agreement, the consortium will get eight months to prepare the detailed designs and to carry out the enabling works for the project, followed by four years to implement the design and then another four months for trial runs and project hand-over.
At 12:34 hours, shares of the company were trading at Rs 852.10 a piece, up 0.76 per cent from previous close on BSE.