L&T wins $740 mn contract from Qatar Railways

Mumbai, April 25 (IANS) Conglomerate Larsen and Toubro (L&T) on Friday said its heavy civil infrastructure business unit has secured a $740 million (Rs.4,510 crore) order from Qatar Railways for designing and building the rail line for the Doha Metro project.

"The total value of the order for the joint venture is $3.3 billion (approximately Rs.20,000 crore)," the company said here in a statement.

L&T won the order along with its joint venture partners Aktor SA of Greece, Yapi Merkezi Insaat of Turkey, STFA Group of Turkey and Al Jaber Engineering of Qatar.

The project is scheduled to be completed in 54 months.

"We are very seriously pursuing our programme of internationalisation and such orders go a long way in opening the doors to new geographies and opportunities," said S.N. Subrahmanyan, member of the board and senior executive vice president (infrastructure and construction) at L&T.

L&T said in its January outlook that it was strengthening its presence in select overseas markets to combat slow economic growth in the country.