India-based construction and engineering multinational Larsen & Toubro (L&T) has an outstanding order book of 4.12 trillion Indian rupees ($49.47 billion) as of June 2023, primarily driven by the construction boom in West Asia, Indian financial daily Business Standard reported, citing company’s executives and industry insiders.

Nearly INR1 trillion, or about 25 percent, of the outstanding order book originated from West Asia, the newspaper said.

In comparison, West Asia accounted for just 11.4 percent of L&T’s order book of INR2.94 trillion at the beginning of 2020, the daily reported.

The West Asia order excludes a possible $3.9 billion package awarded by Saudi Aramco for expansion at the Jafurah unconventional gas production project. L&T has not disclosed the order, the newspaper said.

(1 US Dollar = 83.29 Indian rupees)

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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