L&T Secures $954 Million EPC Orders in Indian Metal Industry

BANGALORE, INDIA--August 22, 2008--Larsen & Toubro Limited (BOM:500510) (L&T) (Mumbai, India) and its global technology partners have secured several engineering, procurement and construction (EPC) contracts with an aggregate value of $954 million from domestic clients in the metal industry. A consortium of L&T, Outotec Oyj (HEL:OTE1V) (Espoo, Finland) and Paul Wurth Italia SpA (Genoa, Italy) secured a $634 million deal from Tata Steel Limited (BOM:500470) (Mumbai) to set up a 3,800-cubic-meter blast furnace and a pellet plant with a capacity of 6 million tons per annum in Jamshedpur. The L&T-Outotec partnership clinched a $188 million deal to set up a 360-square meter sinter plant as part of the expansion program of Steel Authority of India Limited (BOM:500113) (SAIL) (New Delhi) to ramp up production capacity at its Rourkela Steel Plant to 4.5 million tons per year.