Larsen & Toubro (L&T), an engineering and construction conglomerate, has bagged orders worth Rs 10.70 billion in the Kingdom of Saudi Arabia.

The company said, "The railway business Unit, a part of the transportation infrastructure business of L&T Construction, has won a major breakthrough railway order worth Rs 10.70 billion (USD 161.37 million) in the Kingdom of Saudi Arabia."

"The order is from BACS consortium (Bechtel-Almabani-CCC-Siemens) for the construction of ballastless tracks for Riyadh metro lines -1 & 2 on a design & build basis," it added.

The project involves the construction of 62.86 KMs of double ballastless tracks in tunnels, viaducts, atgrade sections and three depots. The project is scheduled to be completed in 40 months.

Larsen & Tubro has won this order against stiff international competition and is in sync with the company's strategy to expand their railway business into the middle-east.

The transportation infrastructure business comprises roads, runways (airside infrastructure) and elevated corridors, railways construction, railways systems and international infrastructure.

Shares of the company declined Rs 34.3, or 2.14%, to trade at Rs 1,571.00. The total volume of shares traded was 95,718 at the BSE (10.23 a.m., Tuesday).