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L&T Commits To 'Make In India,' Also Announces 3 Large Contract Wins

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On Tuesday, in a stock exchange filing, Larsen & Toubro (L&T) said that its conglomerate is committed to "achieving self-reliance for the domestic industry by creating a strong and feasible 'Make in India' ecosystem."

"L&T takes pride in being at the forefront of creating projects and products, some of the largest, biggest, and longest in the world- all made in India."

L&T Commits To 'Make In India,' Also Announces 3 Large Contract Wins
 

Commenting on the same, L&T's CEO and MD, SN Subrahmanyan said: "With an unfortunate incident involving our brave soldiers at our border, sentiments are running high in the country. As a company involved in nation-building for more than eight decades, we firmly stand with the policy of manufacturing best-in-class products locally through 'Make in India'."

In a separate exchange filing, L&T said that it has bagged three "large" contracts worth more than Rs 2,500 crore. As per the engineering giant's classification of projects, "large" are those ranging between Rs 2,500 crore to Rs 5,000 crore.

"The Transportation Infrastructure business has secured an EPC contract to construct Packages 11 and 22 of the Delhi Vadodara Expressway, which when completed will be the country's longest expressway of National Highways Authority of India under its flagship Bharat Mala program," L&T said.

It has also received a contract from Public Works (Roads) Directorate, Government of West Bengal for the reconstruction of 4 lane Tallah ROB (Hemanta Setu) adjacent to Tallah Railway Station on Barrackpore Trunk Road, Kolkata, West Bengal.

The Water & Effluent Treatment business of L&T Construction has secured engineering, procurement and construction orders from State Water & Sanitation Mission, Uttar Pradesh, to implement water supply schemes for Shivhar and Parasi group of villages in Mahoba and Sonbadhra districts respectively.

Shares of the company gained as much as 7 percent in trade on Tuesday, following the announcements, to an intraday high of Rs 970.20.

Story first published: Tuesday, June 23, 2020, 15:22 [IST]
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