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Larsen & Toubro’s Construction Arm to Build IT Parks in Bangladesh

Larsen & Toubro’s (LT, BOM:500510) construction arm won a “significant” order from Bangladesh Hi-Tech Park Authority to build hi-tech IT parks at eight locations in Bangladesh.

L&T Construction will construct seven-storied structural steel buildings at all eight locations with a built-up area of 1.2 million square feet, including civil, finishes, facade and electromechanical works.

While the company did not disclose the financial details of the contracts, it classifies “significant” projects are those ranging between 10 billion Indian rupees ($133.7 million) and 25 billion.

The project is being funded by the Indian EXIM Bank, according to a Wednesday filing.

Price (INR): ₹1886.40, Change: ₹+10.80, Percent Change: +0.58%

Source: 11:27Feb 09, 2022MT Newswires

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