L&T wins Saudi Aramco contract for transmission lines and related system development...

 

The Power Transmission & Distribution Business of L&T Construction, through its fully owned subsidiary L&T Saudi Arabia LLC, has bagged a major international EPC order in the Kingdom of Saudi Arabia from the Saudi Arabian Oil Company (Saudi Aramco).

Larsen & Toubro Saudi Arabia LLC is one among multiple joint ventures of L&T in the high-growth market of Saudi Arabia.

This order has been secured for the construction of 55 km of 230kV Double Circuit Overhead Transmission line and Underground Cabling.

The purpose of this project is to replace the existing 115kV electrical power supply system by the new 230kV power system at the Abu Ali Plants to overcome existing electrical system deficiencies and to meet future electrical demand load required by Berri field to maintain the production at 250 MBCD and to support Karan and Arabiyah fields.

The scope involves detailed design, engineering, site investigation, survey, material procurement, transportation, installation, As-Built documentation, training, mechanical completion, Pre-Commissioning of the Onshore facilities associated with construction of 230kV Double circuits, overhead transmission lines/power cables from Wasit Cogeneration substation with associated gantries and transmission yards up to the beach transition yard at Khurasaniyah area and from Abu Ali Plant 230kV substation with associated gantries and transmission yards up to the beach transition yard at Abu Ali Island.

The project will be completed in 26 months.

On winning this major contract in Saudi Arabia, S N Subrahmanyan, Member of the Board and Sr. Executive Vice President, L&T, said, “With significant growth potential in oil production in the Kingdom, the winning of this order not only comes at a most opportune time but is also strategic from the point of view of L&T’s capability to execute such projects in an extremely competitive environment."

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L&T Construction Secures Orders Valued Rs. 2962 Crores...

 

L&T Construction, a division of Larsen & Toubro Ltd has won new orders worth Rs. 2962 crores across various segments.

The Buildings & Factories Business has secured orders worth Rs. 1555 crores including orders from an IT major, Government of Odisha, Cochin International Airport Limited and others.

The company has received orders worth Rs. 726 crores in the Water & Renewable Energy Business.

The Power Transmission & Distribution Business has bagged new orders worth Rs. 258 crores and additional orders were received from various ongoing projects.

Shares of Larsen & Toubro Ltd was last trading BSE at Rs.1011.30, down by Rs.0.95 or 0.09%. The stock hit an intraday high of Rs.1025.90 and intraday low of Rs.1001.

The total traded quantity was 2.48 lakh shares as compared to 2 week average of 1.54 lakh shares.

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Khaitan Sud & Partners advises on 1980 MW Thermal Power Project...

 

L&T Infrastructure Finance Company Limited (“L&T Infra Finance”) has funded Bajaj Energy Private Limited (“BEPL”), one of the group companies of the Shishir Bajaj Group engaged in the power sector.

L&T Infra Finance has agreed to extend a term loan facility of Rs. 100 crores to BEPL for the purposes of downstream capital expenditure/investment and for meeting obligations related to its role as a sponsor of Lalitpur Power Generation Company Limited (“LPGCL”) which is engaged in the implementation of the 1980 MW super critical thermal power project in District Lalitpur, Uttar Pradesh.

BEPL is engaged in the business of generation of power and is itself implementing a 450MW thermal power project in 5 separate locations in the state of Uttar Pradesh.

Khaitan Sud & Partners (KSP) acted as Lender’s Legal Counsel engaged by L&T Infra Finance. The scope of work involved preparation of relevant financing documents and detailed negotiations with L&T Infra Finance.

The KSP team was led by Principal Associate Sujeet Das assisted by Associates Henna Vadhera and Sudhanshu Goil.

BEPL was represented on the transaction by its in-house finance and secretarial teams.

The transaction closed on December 30, 2013.

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All initial RFQs qualify to submit price bids for TN and Odisha UMPPs...

 

All the companies that submitted initial bids (request for qualification or RFQ) for 4,000 mw each ultra mega power project (UMPP) at Bhedabahal in Odisha and Cheyyur in Tamil Nadu have been asked to give price bids (Request For Proposal or RFP).

The price quotes for these two projects have to be submitted within 45 days. Power developers generating electricity at the cheapest rate would emerge the winner. The project is likely to be awarded by the end of the current fiscal.

For the Rs 25,000 crore Odisha power project, nine companies – NTPC, Tata Power, NHPC, Adani Power, JSW Energy, Jindal Power, Sterlite Infraventures, CLP India and Larsen & Toubro – have submitted bids.

Excepting Tata Power, all these companies also put their bids for Rs 24,200 crore imported coal based UMPP in Tamil Nadu.

The initial bids were evaluated by an Apex Evaluation Committee headed by V K Shunglu, former Comptroller and Auditor General (CAG).

While the Odisha project will be based on domestic coal, the Tamil Nadu project would be fired from imported fuel.

According to Minister of State (Independent Charge) for Power Jyotiraditya M Scindia, the Government is offering investment-friendly parameters for these projects and claims to have cleared the major regulatory hurdles required for the setting up of mega power projects.

In August, the revised standard bidding documents were given the go-ahead by an Empowered Group of Ministers.

At present, India has awarded four ultra mega power projects — one to Tata Power and three to Reliance Power. So far, only Tata Power’s project at Mundra in Gujarat is fully operational.

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Alstom T&D India bags contracts worth Rs 298 crore in HP...

 

Alstom T&D India on Friday said it has received two orders worth Rs 298.3 crore for supplying equipment for power stations in Himachal Pradesh.

"Alstom T&D India has been awarded two contracts with a total value of Rs 298.3 crore to supply two gas-insulated substations (GIS) at Wangtoo and Gumma in Himachal Pradesh," an official statement said.

The projects respectively received from Larsen & Toubro (L&T) and HP Power Transmission Corporation Limited (HPPTCL), aim to improve the transmission capacity of HPPTCL for the transport of electricity generated by hydropower sources across the state, the statement.

The scope of the Wangtoo project, worth approximately Rs 155 crore, covers the design, engineering, manufacture, supply, testing, and commissioning of gas-insulated switchgear, power transformers, instrument transformers and substation automation system.

The Gumma project worth Rs 143.3 crore includes design, engineering, manufacture, supply, erection, testing, commissioning and covers civil works of GIS substation on a turnkey basis.

All key equipment for both the projects will be produced by Alstom's manufacturing facilities across India, the statement said.

"With these dual contract wins for HPPTCL, Alstom is pleased to earn the confidence of its customer for the provision of advanced GIS solutions at the Wangtoo and Gumma substations," Rathin Basu, Managing Director, Alstom T&D India, said in the statement.

Shares of Alstom T&D India were trading at Rs 190.70, up 3.42 per cent on the BSE.

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L&T secures Rs 2935 crore EPC contract for 18 Nos of EHV Substations and cabling in Qatar...

 

Infrastructure major Larsen & Toubro (L&T) today said it had secured a major international engineering, procurement and construction (EPC) order valued at Rs 2935 crore ($ 473 million) from the Qatar General Electricity & Water Corporation (KAHRAMAA) for the supply, construction and commissioning of 18 extra high voltage (EHV) sub-stations and 151 m of EHV cabling in the Gulf state.
 
This order is part of the Qatar Power Transmission System Expansion – Phase XI – Stage I and is the single largest order for it in the Power Transmission & Distribution business, a press release from the company said.
 
According to it, the scope of the contract includes supply, erection, testing and commissioning of Gas Insulated Switchgear of 220/132/66/22kV, power transformers, 220/132/66kV EHV cables, 11kV air insulated switchgear, protection and substation systems, DC system and auxiliaries.
 
The contract encompasses design and construction of civil buildings with a complete set of utilities such as air conditioning, fire protection and lighting systems.
 
The project is scheduled to be completed in 22 months, the release said.
 
These substations are being built to augment the existing power system network to cater to growing infrastructure facilities. The project is spread across prominent locations in Qatar.
 
The release said L&T was already executing similar EHV substations and EHV cables as part of Phase X for KAHRAMAA.
 
Mr. S.N. Subrahmanyan, Member of the Board and Senior Executive Vice President (Infrastructure & Construction), L&T, said that “this order, won against stiff global competition reconfirms L&T's leadership position in this sector at GCC. It also aligns well with L&T's expansion plans in the international arena.”

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Rajpura Thermal Power Plant unit of L&T at Patiala inaugurated by Punjab CM...

 

Punjab Chief Minister Parkash Singh Badal inaugurated the first unit of the 2X700 MW supercritical Rajpura Thermal Power Plant set up by infrastructure major Larsen & Toubro (L&T) at Nalash in Patiala district of the state today.
 
Deputy Chief Minister Sukhbir Singh Badal and other prominent leaders and senior officials were present on the occasion.
 
The plant is the first major coal-powered power plant to be owned and operated by L&T through a special purpose vehicle (SPV), Nabha Power Limited.
 
A press release from the company said coal supply for the plant has been secured through a fuel supply agreement with South Eastern Coalfields. The entire power will be supplied to the state of Punjab.
 
Nabha Power had placed the total EPC (engineering, procurement, construction) order on L&T Power. In addition to the supercritical boiler and turbine generator manufactured in collaboration with the joint venture partner Mitsubishi Heavy Industries, Japan, L&T also supplied balance of plant equipment including electrostatic precipitators, coal and ash handling plants, chimney, cooling tower, control & automation, and switchyard.
 
Mr Shailendra Roy, whole-time director, L&T, said: “We are proud to have completed the project on schedule. With this launch, we have demonstrated our capability of constructing a large supercritical power plant. L&T Power has projects totaling 11000 MW currently under implementation on EPC basis for different customers in various parts of the country.”

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L&T Construction has won Rs. 1471 Crores orders for power & other infrastructure projects...

 

L&T Construction has won new orders worth Rs 1471 crores across various business segments in November & December 2013.

In Power Transmission & Distribution Business, orders valued Rs. 686 crores  have been received in both domestic & international markets.

A major  international order  was bagged by Larsen &  Toubro Saudi Arabia LLC, a fully owned subsidiary of Larsen & Toubro Limited for construction of a 132 kV transmission line and connection of Al-Dawadmi S/S to the 132 kV Riyadh Network.

The  order  includes  construction  of  a  78  km  new  132 kV  Double  Circuit   Overhead Transmission Line; 7 km of re-conductoring an existing 132 kV OHTL with Special Non-Gap Conductors of high current carrying capacity; 132 kV EHV Cabling of approximately 4 RkMs; Protection,  SCADA  and Telecommunication  works associated with  Al-Dawadmi S/S.  The scope involves complete  engineering, supply, installation  and commissioning of 132 kV towers, conductors, insulators, OPGW, and fittings.  The project  will  be completed in 22 months.

On the domestic front, a turnkey order was won from Transmission Corporation of Andhra Pradesh Limited  for setting up a 400 kV Double Circuit  transmission line between Veltoor to Yemmiganoor.

Another order  was won from  Power Grid Corporation of India Limited  for  setting up a 765/400  kV   GIS  Substation.   The   contract     includes   onshore  supply,    installation, construction of civil buildings ft commissioning works.

L& T Construction also secured an order from Tamil Nadu Transmission Corporation Limited for establishing a 230/110/33kV  GIS Substation in Chennai on a total turnkey basis that is meant for transmitting Power to the prestigious Chennai Metro Rail Project.

The Buildings & Factories Business  has bagged new orders worth Rs. 461 crores.
 
The new order was received for  a construction of cement plant in Chittapur, Karnataka from a reputed customer. The scope includes plant's  structural fabrication  and erection works along with its associated activities.

Additional orders have also been received from various ongoing projects.

The Water  & Renewa'ble Energy business has bagged an order worth Rs. 142  crores from Karnataka Urban Water Supply a: Drainage Board for providing, laying, jointing, testing  a: commissioning of  waste water  network  under  the  2nd stage Waste Water Scheme to Tumkur City.

The Heavy  Civil Infrastructure  Business  bagged additional  orders valued Rs. 182 crores from its ongoing jobs.

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L&T Construction wins Rs 2309 cr orders for various infrastructure projects including power projects...

 

The Transportation Infrastructure Business has secured a major order worth ` 694 crores from Kannur International Airport Limited for construction of a greenfield airport’s air side works near Kannur city in Kerala.

The scope includes design, engineering and construction of earth work and pavements for runway, basic strips, turning pads, taxiways, apron, access roads, drainage system, related retaining structures, formation platform for landside facilities along with airfield ground lighting system, visual aids for navigation and bird hazard reduction system.

This order adds one more feather to the company’s International airport construction expertise, matching global standards in line with Bangalore, Hyderabad, Delhi and Mumbai International airports.

In Power Transmission & Distribution Business, new orders valued ` 738 crores have been received. This includes an order worth USD 72 Million (` 447 Crs) received by L&T Oman LLC, a subsidiary of Larsen & Toubro Limited in Oman, from Oman Electricity Transmission Company.

The project is to be completed in 20 months and involves engineering, procurement and construction of two nos. 132/33 kV grid stations along with its 132 kV D/C overhead line and cabling works in Muscat Governorate, Sultanate of Oman. This project was won by L&T Oman against stiff international competition.

A turnkey order has also been received from Power Grid Corporation of India Limited for construction of a 400 kV D/C transmission line under transmission system associated with Mauda Stage - 2 (2 x 660 MW) generation project and two 220 kV D/C transmission line at Dadra & Nagar Haveli.

Another order has been received from Karnataka Power Transmission Corporation Limited for construction of 220 kV D/C Transmission line from Gadag to Bagalkot district in Karnataka on total turnkey basis.

The Buildings & Factories Business has secured an order worth ` 504 crores. The order is from an esteemed customer for construction of 15 Nos. residential towers on design and build model in Bangalore.

The scope of work includes designing and building of foundations, substructure, superstructure and associated mechanical, electrical, plumbing & finishing works.

The Heavy Civil Infrastructure Business has received new orders worth ` 373 crores.

The major order is received from Department of Atomic energy for design, engineering and supply of thermonuclear reactor components for cooling water system, chilled water system and heat rejection system at Gujarat.

Additional orders have also been received from various ongoing projects.

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NTPC, L&T kin on picking up stake in OTPCL's 2,400 MW Power Project...

 

It seems that National Thermal Power Corporation Limited (NTPC) as well as Larsen & Toubro (L&T) are interested in picking up stake in the 2,400 MW Power Plant proposed by the Odisha Thermal Power Corporation Limited (OTPCL).

OTPCL, which is a Joint Venture between Odisha Mining Corporation (OMC) and Odisha Hydro Power Corporation (OHPC), is developing a 2,400 MW Thermal Power Project at Kamakhyanagar in Dhenkanal District.

The project is being developed on 1969.78 acres of land out of which  987.77 acres is government land, 83.94 acres is forest and 982.015 acres is private land.

The private land is to be acquired in 10 project affected villages Aluajharana (19.68 acres), Annapurnapur (447.30 acres), Bijadiha (20.81 ares), Bhagirathapur Sasana (15.2 acres), Dhobabaheli (5.89 acres), Kateni (84.24 acres), Kantapala (45.55 acres), Kusumajodi (244.04 acres), Mahulapala (24.98 acres) and Anlabereni (74.32 acres).

The company has got the water allocation from the department of water resources. Recently, the inter-ministerial committee (IMC) on coal had recommended the Tentuloi coal block with 1234 million tonne reserves in favour of the state PSU.

Entire power generated from the proposed power plant will be procured by Gridco, the state owned bulk power purchaser, as per the tariff determined through the bidding process.

The estimated investment outlay for the project is around Rs. 10,000 Crores.

As said by the OTPCL Officials, the company is considering to offload up to 49 per cent stake in the project for which both NTPC and L&T are kin to pick up.

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More literature on this...

http://www.business-standard.com/article/companies/ntpc-l-t-eye-stake-in-otpcl-project-113080601152_1.html

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Award of two Uttarakhand Hydro projects to GVK-L&T Consortium cancelled; out of that one awarded to Reliance Infrastructure…

Power India found that around 370 MW of Hydro Projects (200 MW Mapang Bogudiyar & 170 MW Bogudiyar Sirkari Bhyol) which have been awarded to the GVK-L&T consortium have been cancelled and Mapang Bogudiyar has been awarded to Reliance Infrastructure Limited by Uttarakhand High Court.

 

200 MW Mapang Bogudiyar hydroelectric project

• The Uttarakhand High Court has ordered cancellation of the award to a GVK-L&T consortium by the state government earlier, after it was found that the entity did not meet key eligibility conditions to bid for the project.
• The court has ordered the state government to award the project to Reliance Infrastructure, which emerged as the second highest bidder for the project.

 

170 mw Bogudiyar Sirkari Bhyol

• In case of another project, the 170 mw Bogudiyar Sirkari Bhyol, awarded to the GVK-L&T and where the state government’s decision has been legally challenged, the court has left the final decision to the state.

 

Uttaranchal Jal Vidyut Nigam Limited (UJVNL) has issued In February 2004, international notice inviting proposals for implementation of five hydropower projects, including the Mapang Bogudiyar and Bogudiyar Sirkar Bhyol on behalf of the state government.

 

Power companies such as GMR, Reliance Infra and GVK-L&T have participated in bidding for these projects.

The bid clearly stipulated that in case of a bid by a consortium, the net worth and net cash accrual of the Lead Partner should not have been less than 26% of the net worth/net cash accrual of the consortium. This was an important and essential condition of the bid.

However, the net worth and net cash accrual of GVK(Lead member) was only 11% and 14% respectively of the consortium.

The state government, however, relaxed this mandatory bid condition and pre-qualified GVK-L&T consortium for submission of price bids.

Based on offers submitted by bidders, the state government allotted the Mapang Bogudiyar and the Bogudiyar Sirkari Bhyol projects to the GVK-L&T consortium.

 

 

 

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L&T Infrastructure's power sector exposure not stressed…

Trouble in the power sector notwithstanding, the portfolio of L&T Infrastructure Finance is not "stressed", a senior company official said today.
"Our exposure in the power sector is not stressed and there had been no case of restructuring of loan. (This) despite our exposure in the sector being 37 per cent," joint General Manager (risk and asset management), L&T Infra Dhananjay Yellurkar said on the sidelines of roadshow for infrastructure bonds.
In the power sector the problem is only in thermal power projects due to coal issues, he said.
Thermal power projects are just 13-14 per cent of their Rs 8,800 crore cumulative exposure and only 4-5 per cent of their exposure is in thermal projects linked to coal linkages from Coal India and another just two per cent linked to imported coal, Yellurkar said.
Telecom portfolio since last few years had shrunk to 12 per cent, he said adding the company is bullish on green energy sector in which company's exposure remains 20 per cent.
L&T Infra has exposure in renewables, hydro and cogeneration.
Last year, focus was in solar and this year it will be in wind, he pointed out.
Roads remained another area of focus with current loan portfolio of 17 per cent, but Yellurkar said they remained vigilant in selecting road projects.
"There was some aggressive bidding in some road projects compared to realistic traffic projections. So we have to vigilant," Yellurkar said.
Meanwhile, the infrastructure finance company raised Rs 530 crore through first tranche of infra bonds out of a total of Rs 1,100 crore in the current financial year.
The easing of yield on 10-year paper since December helped the company to reduce rate of the tranche 2 bond by 30 basis points to 8.7 per cent to raise upto another 470 crore.
The issue opened in January 11 and will close on February 11.

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L&T Infra raises $ 100 mn through ECB to fund solar projects

L&T Infra Finance, a subsidiary of L&T Finance Holdings on Thursday said it has raised close to $ 100 million through the External Commercial Borrowing (ECB) route this fiscal, largely to fund solar power projects.

“We have raised $ 100 million through ECB route so far this fiscal, mostly to fund solar power projects,” as per L&T Head Financial Services, Mr Shiva Rajaraman.

“The ECB borrowings have been done to lower the cost of our funds. The company has drawn $ 45 million till September 30, of the total ECB borrowings so far.

“The company’s consolidated net loan assets stood at Rs 8,790 crore as of September 30, 2011, out of which 37 per cent is in the power sector,” he said.

“Out of this 37 per cent, 14 per cent is in power infrastructure projects of coal and gas fired plants and remaining in the renewable energy projects,” he said. The company has disbursed Rs 2,847 crore in the first six months of this fiscal.

“We are focusing on solar, hydro and wind projects in the power sector now,” he said. The company’s total debt (secured and unsecured loans) stood at over Rs 7,600 crore as on September 30, 2011.

L&T Infra targets to mop up Rs 570 crore through tranche—II of the tax saving bonds having face value of Rs 1,000 each, at a lower coupon rate of 8.70 per cent.

The issue is on and closes on February 11.

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Russian Nuclear firm Atomstroyexport plans to set up JV with L&T for construction of atomic power plants...

According to market reports, Russia's global nuclear project company Atomstroyexport is holding talks with Larsen and Toubro (L&T) for setting up a joint venture (JV) to manufacture equipments required for construction of atomic power plants.

Atomstroyexport, which has recently completed construction of 1 unit of 1000 MW out of 2 units at Kudankulam in Tamil Nadu, has decided to set up an equipment manufacturing unit in India.

Spark Network believes that the decision of Atomstroyexport is to tap the USD 100 Bn civil nuclear market of India considering the boom in the nuclear business and cut down timeframe for construction of atomic reactors.

At present, L&T manufactures reactor vessels for pressurised heavy water reactors and fast breeder reactors. It has also designed technology and critical equipment and systems for heavy water plants, fuel re-processing plants and plasma reactors.

Atomstroyexport has already built 31 nuclear power units in seven countries, including China and Iran.

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L&T's energy efficient equipments for Jaypee's project to be commissioned by 2013...

Engineering major Larsen & Toubro (L&T) is manufacturing energy-efficient turbines and auxiliaries for Jaypee Group’s Thermal Power Project of 1,500 MW in Bina (Madhya Pradesh). (See the related post). L&T on Tuesday announced that the equipments would be commissioned in 2013.

L&T currently manufactures power equipment that can generate 4,000 MW of electricity and would suitably enhance the capacity by building energy efficient and environment- friendly ultra supercritical machinery.

Spark Network found that the current manufacturing capacity of L&T is around 4,000 MW and planned to enhance it about 5,000-6,000 MW. Current order-book of the company stands at Rs 30,000 crore spread over the next four-year with supply requirements of around 12,000 MW.

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MTSL 1980 MW Thermal Project at Raigarh - 8 companies in the race…

Spark Network found that around 8 power companies have bided for the 1980 MW Thermal Power Project of Maha Tamil Collieries. The project is proposed to be set up at Raigarh district of Chhattisgarh.

Eight power companies are known to have bid for the 1,980-Mw thermal power project of Maha Tamil Collieries, in Raigarh district of Chhattisgarh.

The list of the companies include Reliance Power, GVK, Lanco Infratech, GMR, L&T, Sterlite Energy, JSW Energy and Indiabulls Power. The cost of the project estimated at Rs. 15,000 Crore. The project being a pit-head will be located right at the attached coal mine. The mine, Gare Pelma – II produces 15 mt annual output and having reserves of around 768 million tonnes.

Maha Tamil Collieries is a joint venture company of the Tamil Nadu Electricity Board (TNEB) and the Mahrashtra State Mining Corporation, each an arm of their respective state governments. TNEB has 77 per cent of the equity and MSMC the rest. The JV will allow the successful bidder to use coal from the mine to put up the power capacity. The developer must, after satisfying obligations to the host state (Chhattisgarh), sell half the remaining power produced to the state electricity boards of Maharashtra and Tamil Nadu. The other half can be sold on a “merchant basis” though the two boards will have first right of refusal on these, too. And, any extra coal from the mine should be diverted back to the joint venture company.

The bid rules asked for companies with at least three years experience in mining 10 million tonnes in the past three years, either in India or abroad. Bidders who have been selected to develop a coal mine with geological reserves of 250 million tonnes are also qualified.

Spark Network believes that the bid qualifications are very strict and very few companies can qualify,  but the project has generated huge interest because it is one the biggest power projects seeking bids after the Tilaiya (in Jharkhand) ultra mega power project (UMPP) bids.

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