Larsen & Toubro (L&T), an engineering and construction conglomerate, has received two engineering, procurement and construction (EPS) orders worth USD 480 million. The order is for setting up dual fuel-fired based combined cycle power plants in Bangladesh.

One order of approx. USD 280 million has been received from Marubeni Corporation, Japan for setting up a 360 MW Bheramara Combined Cycle Power plant development project of North West Power Generation Company (NWPGCL) in Bangladesh.

NWPGCL, a fully-owned enterprise of Bangladesh Power Development Board, is currently developing around 750 MW of gas-based power plants in the north-western region of Bangladesh and has awarded the contract to set up the 360 MW Bheramara project in Khulna division of Bangladesh to Marubeni Corporation which has in turn awarded the EPC job to L&T on turnkey basis.

The order was bagged by L&T against stiff global competition from Japanese and European EPC companies. The plant will incorporate advanced class gas turbines and high efficiency steam turbines from Mitsubishi Hitachi Power Systems of Japan, which will be procured by L&T.

Another order of USD 200 million has been received from Bangladesh Power Development Board for setting up a 225 MW Sikalbaha Combined Sycle Power Plant near  the port city of Chittagong in Bangladesh. It was bagged against international competition state-of-the-art gas turbines and steam turbines from Siemens AG, Germany and other steam turbine manufacturers, which will be procured by L&T.

Shares of the company gained Rs 28.45, or 1.82%, to trade at Rs 1,593.80. The total volume of shares traded was 60,364 at the BSE (9.52 a.m., Wednesday).