Larsen & Toubro’s construction arm wins $161m Riyadh Metro contract
L&T Construction, the contracting arm of the Indian conglomerate Larsen & Toubro, has won a US$161.4 million contract to carry out track works on the Riyadh Metro.
The company is set to build 62.8 kilometres of ballastless tracks for lines one and two of the Riyadh Metro, which will be laid in tunnels, on viaducts, through at-grade sections and at three depots.
The project is set to be completed within 40 months.
The company announced the deal to the Bombay Stock Exchange on Tuesday, saying that it had “been won against stiff international competition and is in sync with L&T’s strategy to expand their railway business into the Middle East”, but declined to comment any further on the deal.
Larsen & Toubro, which operates in more than 30 countries worldwide and has a revenue of $15bn, is also a part of the ArRiyadh consortium that is delivering the six-line metro system’s longest line, Line 3. It comprises the Italian consultancy Ansaldo STS, the contractor Salini Impregilo, the Saudi contractor Nesma & Partners and the train maker Bombardier, and is delivering a $5.21bn contract for a 40.7km line with 22 stations.
In Oman, the company led a consortium alongside Spain’s FCC Construction and the Omani company Khalid Bin Ahmed that was one of 11 bidders to build the first phase of the $15bn Oman Rail project. Phase one is a 207km link from Buraimi on the UAE border to the port of Sohar. A contractor is expected to be appointed by the end of the year.
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Updated: September 2, 2015 04:00 AM