“With reference to the media report regarding discussions on possible cancellation of certain oil project tenders in Kuwait, the Company would like to clarify that the projects referred to in the said report were not part of the Company’s order book,” the company said in an exchange filing.
Additionally, the company also stated that it cannot comment on the status of tenders or commercial decisions of its clients.
The stock had earlier reacted to the news, first reported by MEED and cited by CNBC-TV18, which said the Kuwait Oil Company (KOC) is reviewing its capital expenditure plans, putting several large tenders at risk.
According to MEED, the review was triggered after bids for multiple contracts came in well above the allocated budget, raising concerns over cost efficiency and fiscal impact. L&T had emerged as the lowest bidder for tenders valued at over $4.5 billion.
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Despite the pressure from overseas developments, L&T announced a fresh domestic order win on the same day.
The company’s Transportation Infrastructure business has secured a significant contract for constructing an arterial Cable-Stayed Bridge over the Muriganga River in South 24 Parganas, West Bengal.This bridge will provide direct, all-weather connectivity to Sagar Island, an area currently dependent on ferry services that are often disrupted during adverse weather conditions.
As per L&T’s statement, the scope of the project includes the construction of a 3.2 km, 2+2 lane Extradosed Cable-Stayed Bridge with a maximum span of 177 meters, along with a 0.9 km approach road on the Kakdwip side and a 0.65 km road on the Sagar Island side.
The bridge will be equipped with advanced features such as Advanced Traffic Management Systems, Bridge Health Monitoring System, Architectural Bridge Lighting, Hybrid Street Lighting, and other road infrastructure.
The infrastructure project is expected to benefit over two lakh residents of Sagar Island by improving mobility, healthcare access, and economic prospects. It is also poised to enhance pilgrimage connectivity for millions of devotees traveling to the annual Ganga Sagar Mela, the second-largest religious congregation in India after the Kumbh Mela.
In addition to its social impact, the bridge is expected to drive local economic development by fostering trade, tourism, and business on the island.
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