Larsen and Toubro’s Buildings & Factories arm has secured significant new orders in India, including seven high-rise residential towers for Oberoi Realty in Gurugram. The company will also construct a state-of-the-art proving ground in Haryana for a leading international firm, upgrading vehicle testing infrastructure and expanding its presence beyond construction.
Larsen & Toubro’s clean energy arm, LTEGL, has signed a long-term agreement with Japan’s ITOCHU to supply 300,000 tonnes of green ammonia every year from its Kandla facility. The pact follows an earlier arrangement and is designed to turn Kandla into a low-carbon fuel export hub, with ITOCHU planning to use the ammonia for marine fuels, especially for Singapore.
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Larsen & Toubro’s push toward its 2021 Lakshya 3.0 target is being squeezed by a double setback: crude prices crashing to multi-year lows, cutting revenue linked to the Middle East, and the pandemic stalling the broader economy. The result is a tougher path for the engineering giant and fresh uncertainty over whether it can stay on track.
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