Dhaka, Bangladesh (CU)_ Larsen & Toubro (L&T) announced on Wednesday that its construction subsidiary has acquired a major contract to build hi-tech IT parks in eight locations throughout Bangladesh. The mega project will be sponsored by the Indian EXIM Bank and is L&T’s first order in Bangladesh for IT and office space construction.
According to the company’s statement, “The construction arm of Larsen & Toubro has secured an order from the Bangladesh Hi-Tech Park Authority to construct Hi-Tech IT Parks at 8 locations (2 packages at 4 locations each) across Bangladesh”. The construction firm did not disclose the value of the deal, but stated that it fits into the substantial category, which is defined as contracts worth between INR 1,000 crore and INR 2,500 crore.
The project’s primary scope of work includes the purchase and construction of seven-story structural steel structures at each of the eight locations. Additionally, the scope of work includes elevator, electrical, fire fighting system, and public health engineering and others. The project is expected to be completed within a certain time frame.
Larsen & Toubro Ltd, or L&T is a Mumbai-based Indian multinational company with holdings in engineering, building, manufacturing, technology, and financial services. The corporation is ranked among the top five construction firms in the world. It was established in India by two Danish engineers seeking refuge. By 2020, the L&T Group had 118 subsidiaries, six associates, twenty-five joint ventures, and thirty-five joint operations firms engaged in basic and heavy engineering, construction, capital goods manufacture, information technology, and financial services.
