News: L&T wins multi-million dollar order from China

(PTI 07/12/2006) Beijing - India's top engineering company L&T has won a multi-million dollar contract to supply three reactors to Chinese oil and gas giant Sinopec, industry sources said here today.

L&T's Heavy Engineering Division and the Tianjin branch of China Petroleum & Chemical Corporation (Sinopec), China's second-largest state-run oil and gas firm, have signed an agreement to this effect, the sources told PTI here.

The size of the deal is not known but sources said it may be worth nearly $85-95 million.

The signing of the deal follows the recent visit to India by the President of Sinopec, Tianjin branch, Xu Hong Xing and his talks with top L&T brass in Mumbai.

Sinopec is setting up two one million tonne capacity ethanol plants each in Tianjin and Zhenhai and the L&T-supplied reactors would be critical elements in the company's massive expansion plans.