Construction & Real Estate
L&T emerges lowest bidder for Kuwait Oil project
Indian engineering and construction conglomerate Larsen & Toubro (L&T) has emerged as the lowest bidder for a key project of Kuwait Oil Company. The Jurassic Light Oil project will see construction of new storage facilities as well as upgrade of existing infrastructure.
Kuwait Oil Company (KOC) has announced that top Indian engineering and construction conglomerate Larsen & Toubro (L&T) has emerged as the lowest bidder for its key Jurassic Light Oil (JLO) Export Facilities & Upgrading of Existing Export Network project followed by leading British international energy services company Petrofac.
The L&T bid at a price of KD303.5 million ($988.8 million), while Petrofac's pricing stood at KD310.5 million ($1.01 billion), said KOC in a statement.The scope of work includes the construction of new storage facilities for Kuwaiti export crude and Jurassic light crude, along with the upgrade of existing crude export infrastructure, it added.-TradeArabia News Service