L&T in pole position for tender

Eye on bid prize: an L&T worker

BLOOMBERG

By Nishant Ugal New Delhi

 12 July 2012 22:59 GMT

INDIAN engineering giant Larsen & Toubro (L&T) and Australian-Indian joint venture Leighton Welspun have emerged as the low bidders in two tenders by Oil & Natural Gas Corporation (ONGC) for the provision of wellhead platforms for two marginal field developments off the west coast of India.

In the first tender covering four wellhead platforms for the B-127 marginal field development, L&T has emerged as the lowest bidder by quoting $134 million, said sources.

The domestic player is said to have come in lowest ahead of a consortium led by Leighton Welspun along with Gulf Piping Company of Abu Dhabi, which quoted $145 million.

The other bidders for B-172 were Abu Dhabi-based National Petroleum Construction Company (NPCC), which is said to have put in $156 million, and US engineering giant McDermott, whose bid was pegged at $189 million.

For the second…

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