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L&T bags multi-million-dollar project in Europe

Larsen & Toubro (L&T) has landed on a multi-million-dollar project in Europe for infrastructure, procurement and construction management, the Economic Times reported.

For expanding an existing site in Europe, L&T Technology Services Ltd (LTTS) bagged a multi-million dollar project from one of the world’s top plastics, chemicals and refining manufacturers, the company said in a filing to BSE.

The expansion project will be implemented at the customer’s brownfield plant in Germany over 30 months.

Brownfield plants are those in-use or left-over industrial land, which is understood to be contaminated with hazardous substance. In Germany alone, nearly 15000 local municipalities are empowered to  provide lands for industrial uses. 

According to United States Environmental Protection Agency, the official website of the government, the US has no less than 4,50,000  brownfields.  

Even after so many land revitalization programmes, hundredsd of thousands of brownfields worldwide, have not been cleared from Petroleum hydrocarbons, Lead, Construction debris (lead paint or asbestos containing materials), Polychlorinated biphenyls (PCBs), Treated wood (creosote, cadmium/chromium/arsenic), Industrial chemicals, Diesel, fuel and other hazardous gases, the US National Library of Medicine said.  

However, the LTTS said it rolled out effective industrial land initiatives in the United States and had the luxury of extending its relationship with a strategic partner to markets in Europe.

The company will function on EPCM model, said Amit Chadha, President, Sales and Business Development and board member at L&T Technology Services. It did not disclose the exact amount of the project. In India as well,  the company bagged many projects worth thousands of crores despite the country’s economy running low. 

Also read, Secret behind Larsen & Toubro (L&T) growth when country’s economy is under severe crisis

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