Larsen and Toubro (L&T) has issued a clarification stating that the projects referred to in recent reports about Kuwait cancelling oil project tenders were not part of the company’s official order book. The company emphasized that its reported order book remains unaffected and continues to reflect valid contracts.
Larsen and Toubro, India’s leading engineering and construction conglomerate, has addressed market concerns following reports of Kuwait cancelling certain oil project tenders. In its statement, L&T clarified that the projects mentioned in the report were not included in its order book, ensuring that its disclosed figures remain accurate and unaffected.
Key highlights from the announcement include
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L&T confirmed that the Kuwait oil projects referred to in the report were not part of its order book.
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The company emphasized that its official order book continues to reflect only valid and confirmed contracts.
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The clarification was issued to maintain transparency and reassure stakeholders about the accuracy of its financial disclosures.
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Reports of Kuwait cancelling oil tenders had raised concerns about potential impact on L&T’s overseas projects.
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L&T’s statement underscores its commitment to timely communication and regulatory compliance.
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The company continues to focus on its diversified portfolio across infrastructure, energy, and technology projects globally.
This clarification highlights L&T’s proactive approach in addressing market speculation and ensuring investor confidence. By confirming that the Kuwait projects were not part of its official order book, L&T has reinforced the credibility of its disclosures and safeguarded stakeholder trust.
Sources: Reuters, Business Standard, Economic Times