L&T, ACWA Power Ink Deal for Yanbu Green Ammonia Project, Boosting India's Defence Tech Self-Reliance
Larsen & Toubro (L&T) has signed a significant agreement with ACWA Power for the renewables and grid work of the Yanbu Green Ammonia Project in Saudi Arabia. This collaboration aims to bolster India's development of its fifth-generation fighter aircraft, contributing to national security and defence technology self-reliance.
L&T's Chairman & MD, S N Subrahmanyan, stated that this partnership will strengthen national security and boost self-reliance in defence technologies. Meanwhile, L&T's shares traded 0.61% higher at Rs 3,679.90 on NSE as of 11:51 AM.
Last week, L&T secured orders worth up to Rs 15,000 crore, including two large and two significant contracts. The company also announced a strategic program with Bharat Electronics Ltd (BEL) to support India's Advanced Medium Combat Aircraft (AMCA) program of the Indian Air Force. This collaboration combines L&T's expertise in defence and aerospace platforms with BEL's experience in defence electronics. The L&T-BEL consortium is set to respond to the expression of interest issued by the Aeronautical Development Authority in the coming weeks.
L&T and BEL have previously supplied key aero-structure modules and developed mission-critical avionics for India's Light Combat Aircraft program, demonstrating their commitment to supporting India's defence initiatives.
L&T's recent partnerships and order wins, including the MoU with ACWA Power and the strategic alliance with BEL for the AMCA program, reflect the company's robust growth and commitment to India's defence sector. Despite hitting a day's high, L&T shares are trading flat, indicating investor confidence in the company's strategic moves.
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