The Hindu Business Line : L&T bags contracts worth Rs 340 crore in Dubai project

LARSEN & Toubro Ltd has won contracts worth Rs 340 crore in the Rs 450-crore project of a United Arab Emirates-based company for building a residential property in Dubai.

The rest of the amount would be the value of works to be executed by nominated sub-contractors, said a news release from L&T.

The project involves construction of Mogul Gardens-2 at Discovery Gardens located on Shaikh Zayed Road, Dubai.

The project will be executed by ECC, L&T's construction division, and is to be completed in 560 days from the date of signing of the deal. It involves construction of 27 residential blocks with a total built-up area of 178,050 square metres. In all there will be 1,908 apartments.

Nakheel, a leading project developer in UAE, is involved in several major property development projects with investments to the tune of $12 billion in Dubai, said the release. The developer has to its credit a variety of landmark structures in Dubai.

With this order, L&T has further strengthened its presence in the Gulf region, the company said. Recently, L&T and its Oman-based subsidiary secured five contracts cumulatively valued at Rs 467 crore to provide water supply distribution system to Saham and Khaburah towns in Oman; and in Dubai for construction of two 39-storied commercial & office buildings, and two towers of 35-storied and 25-storied luxury condominiums.

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