Larsen and Toubro bags UAE orders worth $158 million

December 3rd, 2010 - 3:50 pm ICT by IANS  

Mumbai, Dec 3 (IANS) Engineering and construction major Larsen and Toubro (L&T) Friday said its construction division has bagged a contract worth Rs.716 crore (around $158 million) from the UAE to construct an intersection connecting a road between Abu Dhabi and Dubai.

The Sheikh Khalifa Interchange project is to be completed in two years and includes construction of four bridges, a 62-metre-long, 20-metre-wide tunnel, and 12 km of four to six lane roads, the company said in a regulatory filing.

Set to meet the highest international standards, the project is expected to significantly improve traffic conditions in the Al Samha region, especially the truck traffic from the new Sheikh Khalifa port, it added.

At the Bombay Stock Exchange, the shares of the company were up 0.27 percent to trade at Rs.2,016.50.

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