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Dubai, Aug 25 (UNI) Engineering and construction major Larsen and Toubro, along with its Denmark based consortium partner Haldor Topsoe AS, has bagged a Saudi Rial 412 million contract from Saudi Formaldehyde Chemical Company Ltd (SFCCL), for setting up high-tech methanol and carbon monoxide plants.

''As per the agreement, to be executed on Engineering and Procurement (E&P) basis, L&T would carry out engineering works and procure equipment and materials for the plant as well,'' said L&T Chief (international business development) D S Shevede.

Jubail-based SFCCL is a private sector enterprise, developed, promoted and financed by a group of leading industrialists from the Gulf Cooperation Council countries.

The company said that it will manufacture some critical equipment at its Powai and Hazira works and along with its consortium partner provide technical services for setting up and commissioning the plant.

L&T is currently executing a 200-bed hospital project, a cement plant and a school project in Saudi Arabia. The company's local joint venture, L&T Saudi Arabia LLC, has recently commissioned a gas insulated switchgear substation for Saudi Aramco.

The company is also involved in a major 1.5 billion dollar aluminium plant to be built in India with the UAE besides being involved in several projects across the Gulf.

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