LT gains 2% on winning Mumbai Trans Harbour Link project
Larsen & Toubro share price gained as much as 2 percent in morning Monday after its subsidiary L&T Construction, its heavy civil infrastructure business vertical, has bagged an order worth Rs 8,650 crore from the Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of Mumbai Trans Harbour Link (MTHL), packages 1 and 3.
The project involves construction of a 21.8 km bridge connecting Mumbai mainland with Navi Mumbai. “The contract (package 1), secured in partnership with IHI Corporation, Japan involves construction of an Orthotropic Steel Deck crossing the various obligatory navigation channels,” L&T said.
The package 1 involves construction of a multi-level interchange at Sewri and a six-lane marine bridge from Sewri extending 10.38 km into the Mumbai bay.
The package 3, won by L&T on a standalone basis, involves construction of a 3.6 km, six-lane land bridge at Navi Mumbai, it added.
At 09:25 hours IST, the stock pricewas quoting at Rs 1,243.95, up Rs 22.70, or 1.86 percent on the BSE.