L&T wins over US$ 600.34 million (Rs. 5,000 crores) power and water systems order in Saudi Arabia

On December 27, 2023, Larsen & Toubro (L&T) announced a significant order win from Saudi Arabia, valued at over US$ 600.34 million (Rs. 5,000 crores) for power generation and water systems. According to the official statement, L&T has been selected as the turnkey Engineering, Procurement, and Construction (EPC) contractor for the AMAALA project in the Red Sea region of Saudi Arabia. This project involves establishing various systems related to renewable energy generation and utilities. AMAALA, situated in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia’s northwestern coast, is an ultra-luxury destination. While L&T has not disclosed the exact value of the order win, the statement suggests a valuation falling within the range of US$ 600.34 million (Rs. 5,000 crores) to US$ 1.20 billion (Rs. 10,000 crores).

L&T reported that a consortium comprising the clean energy leaders of the United Arab Emirates, Masdar, and the French electricity utility EDF has executed the concession agreement for this fully integrated utility project with AMAALA's developers. L&T has formally entered into an EPC agreement with the project sponsors, EDF and Masdar. This development underscores L&T's continued involvement in large-scale infrastructure projects, particularly in the renewable energy and utility sectors.

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