Latest news with #LarsenandToubro
Zawya
11-07-2025
- Business
- Zawya
Indian Oil to upgrade Panipat refinery's diesel unit for green jet fuel production
NEW DELHI - Indian Oil Corp plans to shut the diesel desulphuriser unit at its 300,000 barrel-per-day Panipat refinery for an upgrade aimed at producing sustainable aviation fuel (SAF) next year, Arvind Kumar, its head of refineries, said on Thursday. The overhaul of the diesel unit is scheduled for late this year or early next year, Kumar told an industry event in New Delhi. India aims to have 1% sustainable aviation fuel (SAF) in aviation fuel by 2027, doubling to 2% in 2028. The refinery's diesel output would not be hit due to the shutdown as the refiner has additional diesel hydrotreaters at the Panipat site. The upgraded unit will process used cooking oil (UCO) to produce 30,000 metric tons per year of SAF, he said. Indian Oil, the country's largest refiner, will also look at upgrading some kerosene-producing units at other refineries to make SAF, he said. He also said that Indian Oil will soon invite bids for a 70,000 tons-per-year green hydrogen plant and a sustainable aviation fuel project. Indian Oil has already awarded a bid to build a 10,000 tons-per-year green hydrogen facility at the Panipat refinery to engineering major Larsen and Toubro. L&T will build and operate the plant and sell green hydrogen to Indian Oil at 397 Indian rupees ($4.64) per kilogram. India has set a target for refiners to meet half of their hydrogen demand through green hydrogen by 2030, he said. ($1 = 85.6490 Indian rupees)
Mint
02-07-2025
- Business
- Mint
How L&T set world record for Rishikesh-Karnaprayag Rail Link using tunnel boring machine
New Delhi, Jul 2 (PTI) The construction firm Larsen and Toubro achieved a remarkable feat on the Rishikesh-Karnaprayag Rail Link project on June 29, a day ahead of the baseline schedule, setting a new world record in tunnel construction using a single-shield hard rock tunnel boring machine. "The TBM Team has broken the world record by achieving a maximum progress of 790 metres in a month (31 days) using Single Scheid Hard Rock TBM named Shiv," S V Desai, the Whole Time Director, L&T Limited, told PTI on Tuesday. The company officials stated that this was the first time that anywhere in the world a single-shield hard rock tunnel boring machine (TBM) was used in such an efficient manner. "In the last leg of the boring work in the month of May-June for the longest rail tunnel of the country, the TBM, named Shiv, excavated 790 meters in 31 days and achieved a breakthrough," Rakesh Arora, Project Director, added. This 13.09-km-long tunnel is the downline one, running parallel at a 25-metre distance from the first one, a 14.57 km long upline tunnel, which achieved breakthrough earlier on April 16, 2025. Completed by L&T, these twin tunnels between Devprayag and Janasu make the country's longest transportation tunnels, and they are part of the ambitious 125-km Rishikesh-Karnaprayag Broad Gauge Rail Link Project in Uttarakhand, scheduled to be operationalised in December 2026. L&T officials said that the total length of both tunnels is 30 km, which includes, besides the main tunnels, escape tunnels, cross-passages and niches. While 70 per cent work (21 km) was done through TBMs, the remaining 30 percent (9 km) was completed using drill and blast (also known as New Australian Tunnelling Method). "While the first TBM, named Shakti, completed 10.47 km of the upline tunnel on April 16, 2025, 12 days ahead of schedule, the second TBM, Shiv, finished 10.29 km of the downline Tunnel on June 29, 2025, a day ahead of schedule," Arora said. He added, "On an average, we did over 400 metres of tunnelling per month by TBMs and over 70 metres by NATM." K Bhavani, Heavy Civil Infrastructure IC, congratulated the whole team. "The progress at both TBM as well as at NATM fronts was fantastic, enabling completion of excavation work ahead of the baseline schedule for the longest transportation tunnel in India." Suresh Kumar, Head, Hydel and Tunnels Business, appreciated efforts made by Rakesh Arora, Project Director; Chris Cooper, team leader (Expat); Sunil Dutt Vats, project manager of NATM in overcoming several difficulties during the work such as geological challenges (loose rock/ shear zones and high ingress of water) and adverse working conditions like high temperature and humidity in long tunnels On the day of successful completion, Arora remembered the day he landed at the project with other officials in February 2021 and started from the scratch right from mobilising the resources (Manpower, Machinery, Material, etc.), establishment of Infrastructure facilities, starting of tunnelling works and progressing to receive and launch two big Tunnel Boring Machines. Senior officials from the construction sites narrated unprecedented logistics management in TBM transportation from port to project site, as well as assembling and shifting to launching position; segment and muck handling, and their transportation, besides multiple tunnel logistics along with several other activities. "Besides geographical and logistical challenges, issues such as skilled staff and workmen mobilisation and retention, quarry approval and operations while managing other stakeholders such as customers, local people and local authorities were equally cumbersome," Sureshkumar from Hydel. & Tunnels Business said. Both Desai and Arora appreciated the great vision and very good support from Rail Vikas Nigam Limited (RVNL) for making this happen in such a fantastic manner.
Time of India
21-06-2025
- General
- Time of India
Ayodhya's Ram temple to be ready by October 31; landscaping by January 1; campus to feature 20 key elements, points of interest
The Ram temple in Ayodhya is on track for completion by October, with the surrounding 70-acre compound expected to be ready with landscaping by January 1st AYODHYA: The construction of the Ram temple in Ayodhya will be completed by October while the temple's 70-acre wide compound will be ready in its green avatar latest by January 1next year. Ram temple trust general secretary Champat Rai said that construction of the temple will be done by October 31. The landscaping work of the temple, to be taken up by GMR, is expected to begin in the first week of November. Vinod Mehta, project director, Larsen and Toubro construction team, said that all the milestones pertaining to the completion of the temple are going to be achieved by October 31. Temple campus to have 20 elements & points of interest 'Post that, L&T will start the process of pulling out from the project. Whatever has been defined in our scope of work would be achieved by then. That is what we are targeting at present,' said Mehta on Friday. According to officials involved with the construction work and with the Ram temple project, the landscaping work would take six to eight weeks for completion. 'With the help of the latest technology, the land filling and landscaping work should not take a lot of time. And people visiting the temple would be able to enjoy their time in the gardens and green space. The temple trust would chart out which areas are going to be opened for the devotees later,' said an officer. Meanwhile, Champat Rai said that construction of the boundary wall is going to take at least 10 to 12 months for completion. 'The parkota wall will be ready in four months. We all are focusing on the completion of the parkota. Once parkota work is over, scaffolding and heavy machines are going to be taken out in a phased manner from the premises,' said Rai. For now, the temple trust is in talks with the administration to finalise its strategy to allow the movement of the devotees on the first floor where Ram Darbar has been established. Due to availability of limited space for the movement of the visitors through the staircase, the temple trust is yet to open the first floor for the devotees. More than 20 different elements and points of interest are going to be developed in the Ram temple compound in a phased manner, said a senior office-bearer of the trust.
Time of India
10-06-2025
- Business
- Time of India
L&T bags major grid infrastructure orders in India and Middle East
Larsen and Toubro 's (L&T) Power Transmission & Distribution (PT&D) on Tuesday announced that it has secured major new grid infrastructure orders in India and abroad. According to the company's project classification, the order ranges between ₹5,000 to 10,000 crore. In India, the company has bagged contracts to build 765kV and 400kV transmission lines, which are vital for the integration of a Renewable Energy Zone (REZ) located in Andhra Pradesh Expanding its international footprint, L&T's PT&D business has also secured orders in the Middle East. The scope of these orders includes the execution of a set of 220kV and 132kV Gas Insulated Substations (GIS) on a turnkey basis. Larsen & Toubro's PT&D business is a key player in the global energy infrastructure sector, offering a comprehensive range of integrated solutions from design and manufacturing to supply, construction, and commissioning of high-voltage transmission lines, substations, and distribution projects. They are also active in industrial project electrification, instrumentation, and control systems.
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Business Standard
28-04-2025
- Business
- Business Standard
L&T Finance to increase commercial paper issuance amid softening rates
With the easing interest rate cycle setting in, L&T Finance Ltd is tweaking its fund-raising strategy by gradually increasing the share of commercial papers (CPs) from seven per cent in March 2025 to up to 12-13 per cent of liabilities in the current financial year. The share of CPs, a short-term money market instrument, for the lending arm of the Larsen and Toubro (L&T) group was seven per cent in the quarter ended December 2024. Sachinn Joshi, chief financial officer (CFO), LT Finance, told Business Standard the Reserve Bank of India (RBI) is creating liquidity in the system and indicated that about Rs 2-2.5 trillion liquidity will be maintained. 'If such conditions remain, then you will see short-term rates actually sliding down. There is an expectation of a further 50 basis points cut in policy repo rates,' he added. L&T Finance Ltd's total liabilities stood at Rs 92,247 crore in March 2025 as against Rs 86,161 crore in December 2024 and Rs 76,541 crore in March 2024. RBI has reduced the policy repo rate by 50 basis points to 6.0 per cent. It also changed the stance of monetary policy from 'neutral' to 'accommodative', signalling intent of better liquidity conditions. Joshi said, for example, the CPs are available at 7-7.5 per cent and three-year bonds are also available at 7.5 per cent. When it is clear that interest rates are going down, the issuer will not take much of long-term funds. They do not want to lock themselves for the long term at higher rates and would opt to take money through short-term instruments, subject to market conditions. Besides the cost of funds, another aspect which has a bearing on the choice of fund-raising instrument is asset-liability management. As the loan book starts growing, there will be a lot of repayment that will come to the company under one year. The inflows will be in various buckets — 30 days, 60 days etc. The company has to also correspondingly ensure there are also outflows as part of asset-liability management. As there are inflows (repayment) under the one-year bucket, the company can take CP money (30 days, 60 days etc) tenure that comes for repayment, the CFO added. Besides commercial papers, the share of bank loans (non-priority sector) in liabilities was 27 per cent and of bank loans (priority sector) was 26 per cent and non-convertible debentures (NCDs) — private placement — was 26 per cent. Its weighted average cost of borrowing grew marginally to 7.84 per cent in March 2025 from 7.83 per cent in December 2024 and 7.82 per cent in March 2024.
