Business & Economy
L&T wins Rs 4510 crore order for Doha Metro project
Mumbai, April 25, 2014
Infrastructure major Larsen & Toubro (L&T) today said its construction division had won a prestigious $ 740 million (approximately Rs 4510 crore) order from the Qatar Railways Company for the design and construction of the Gold Line of the Doha Metro project in the Gulf State.
The contract was signed in the presence of Mr Saad Al Muhannadi, CEO of Qatar Railways Company, a press release from L&T said.
L&T secured the order along with its joint venture partners Aktor - Greece, Yapi Merkezi Insaat - Turkey, STFA Group - Turkey and Al Jaber Engineering - Qatar. The total value of order for the joint venture is $3.3 billion (approximately Rs 20,000 crore), it said.
The project is scheduled to be completed in 54 months. The contract includes the design and construction of twin tunnels for an approximate length of 11 km and nine underground metro stations including architectural finishes and mechanical, electrical and plumbing works.
The Metro project is among the key infrastructure projects of national interest as per the Qatar National Vision 2030.
“This order, close on the heels of the Riyadh Metro order, has been won in the face of stiff global competition and reflects the growing confidence of clients in L&T’s capability to handle mega projects in the Middle East,” said Mr. S. N. Subrahmanyan, Member of the Board and Senior Executive Vice President (Infrastructure and Construction) L&T.
“We are very seriously pursuing our programme of internationalization and such orders go a long way in opening the doors to new geographies and opportunities,” he added.