Engineering powerhouse Larsen & Toubro (L&T) has reportedly emerged as the lowest bidder for a $4.5 billion offshore project floated by Qatar Energy. While final confirmation is awaited, reports suggest L&T is leading the race for one of the largest global EPC contracts in recent months.
This project is a crucial part of Qatar’s ambitious LNG capacity expansion, which aims to increase output from 77 million tonnes per annum (mtpa) to 126 mtpa. This particular bid is for a project for the expansion of North Field as well as the South Expansion.
The scale and urgency of the expansion have created opportunities for EPC giants, and L&T appears to be well positioned to capitalise.
Should the contract be awarded, it will significantly bolster L&T’s hydrocarbon segment, reinforcing its status as a global EPC leader. The segment has already seen momentum through both domestic and international wins, and this Qatar deal would be among its most valuable.
A win of this magnitude would add considerably to L&T’s international order book, which the company has been actively trying to expand. It aligns with its strategic focus on scaling operations in the Middle East and diversifying its revenue mix beyond India.
Although the deal is yet to be officially announced, market participants have responded positively. The share price of L&T shares is trading higher by 1.83% as of 1:47 PM on March 25, 2025.
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Published on: Mar 24, 2025, 3:11 PM IST
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