FINWIRES · TerminalLIVE
FINWIRES

Larsen & Toubro Clinches New Order for Minerals and Metals Business; Shares Up 3%

By

The minerals and metals business vertical of Larsen & Toubro (NSE:LT, BOM:500510) has secured its largest-ever "mega" order in the domestic metals sector, valued between 100 billion Indian rupees and 150 billion rupees, from JSW Steel (NSE:JSWSTEEL, BOM:500228).

Under the contract, the company will provide comprehensive engineering, procurement, and installation of critical process facilities, including blast furnaces and steel melt shops, across various JSW Steel sites in India, mainly at Ballari in Karnataka and Paradip in Odisha.

This is part of JSW Steel's expansion of its crude steel processing capacity from 35 million tons per annum (MTPA) to over 50 MTPA by 2031.

The company's shares were up over 3% in recent trade.

Related Articles

Asia

Ley Choon Unit Bags SG$36 Million Contracts; Shares Up 3%

Ley Choon's (SGX:Q0X) subsidiary, Ley Choon Constructions and Engineering, secured underground utilities services contracts worth SG$35.6 million, according to a Tuesday filing with the Singapore Exchange.Shares of the underground infrastructure services company were up nearly 3% in Wednesday trading.The contracts are expected to conclude within 24 to 36 months.

SGX:Q0X
Asia

Goldwind Science & Technology to Provide Wind Turbine Services in Morocco for $29 Million; Hong Kong Shares Down 3%

Goldwind Science & Technology (SHE:002202, HKG:2208) agreed to provide long-term operation and maintenance services for wind turbines in Morocco for a total guarantee amount of up to $29.4 million, according to a Shenzhen bourse filing on Wednesday.The deal was signed with Energie Eolienne du Maroc through a subsidiary, Goldwind Morocco (SARL).The Chinese wind power company's Hong Kong shares dropped 3%, while Shenzhen shares rose less than 3% during morning trade.

HKG:2208SHE:002202
Asia

AusQuest Says Reverse Circulation Drilling at Peru Porphyry Copper-Gold Project Defines Continuous Mineralized Corridor

AusQuest (ASX:AQD) said reverse circulation drilling continues to define a continuous mineralized corridor extending more than 1,500 meters in length at the Cangallo porphyry copper-gold project in Peru, according to a Wednesday Australian bourse filing.Drilling encountered intercepts of 269 meters at 0.3% grade of copper and 0.1 grams per tonne (g/t) grade of gold from 160 meters, as well as 214 meters at 0.3% grade of copper and 0.1 g/t grade of gold from 124 meters.The company said that permitting of the stage four drill pads was prioritized to enable further drilling in the highly prospective southern portion of the prospect.

ASX:AQD