L&T JV in Saudi Arabia for Hydrocarbon & Power sector construction

Mumbai, Jan 17 (UNI) Engineering and construction major Larsen&Toubro Limited (L&T) has signed a Joint Venture with A A Turki Contracting&Trading Corporation (ATCO) of the Kingdom of Saudi Arabia.

The new venture, to be known as 'Larsen&Toubro ATCO (Saudia) LLC', will be registered as a local company in that country, said a L&T press release. It will focus on electro-mechanical construction for the hydrocarbon and power sector construction. The Kingdom of Saudi Arabia is one of the biggest markets in the Gulf Cooperation Council (GCC) countries.

As a part of its strategic plans, L&T has taken important steps in the GCC area by establishing Engineering&Project Management Centres in Abu Dhabi and Sharjah followed by the construction of its own deep-water offshore platforms and Modular Fabrication Yard at Sohar, Oman.

ATCO, belonging to Sheikh Abdulrahman Ali Al-Turki, is a leading conglomerate in Saudi Arabia. Mr Ziad Ali Al-Turki, Executive Vice President of the ATCO agrees that the Joint Venture will enable the two companies to benefit significantly from the boom in the Oil&Gas and infrastructure fields.

L&T has successfully completed many projects in Saudi. After the implementation of mega formaldehyde and para-formaldehyde projects, L&T is now executing an over US$ 120 million contract for methanol / carbon monoxide project.

It has also constructed many schools, hospitals and sub-stations and is building a factory for electrical products and services in the eastern province. L&T's Heavy Engineering Division has supplied critical equipment like Catofin Reactors, Product Splitter, Waste Heat Boiler, Formaldehyde Reactors, Absorber, Tail Gas Heater and Feed/Effluent Exchanger to Saudi customers.

UNI