Larsen and Toubro wins 1.18 billion dollars contracts from Oil and Natural Gas Corporation

Larsen & Toubro (L&T) has won two offshore platform contracts worth over Rs 5,300 crore ($1.18 billion) from Oil & Natural Gas Corporation (ONGC). The order, the single largest in the Indian hydrocarbons sector, comes to about 13% of L&T's net sales in 2008-09.

The company secured the turn key order for the Mumbai High North process platform & living quarters project, with an additional order to build three process gas compression modules in the same complex. The projects have to be completed within three years.

Hyundai, Samsung and National Projects Construction Corporation were the other bidders for the contracts.

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Firing up Tech Factories

For a while, India has been the preferred offshoring destination for software and services and Chi na the manufacturing king. This neat division is beginning to blur now. Leading telcos like Nokia, Motorola, LG, Samsung and Ericsson have set up manufacturing plants in the last couple of years. Many of them have attracted their component suppliers to set up facilities here. Seven out of the top 10 worldwide electronics manufacturing services (EMS) players including Foxconn, Flextronics and Jabil Circuits have set up their manufacturing facilities. PC bigwigs like HP, Lenovo, Dell, Acer, HCL, Wipro and Zenith already have their assembly lines here.

Take Nokia facility in Chennai, for instance. It showcases Indian IT and electronic hardware manufacturing prowess. Nokia’s factory in Chennai is among the largest, employing 40,000 people and houses close to 10 component vendors for mobile handsets in the same park.

Nokia exports about 70% of its production, according to industry estimates. The factory has a total production base of 5 lakh cellphones per day. Story at other telecom bigwigs like Motorola, LG, Samsung and Ericsson is not very different.

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