Shares of Larsen and Toubro Ltd (L&T) are buying and selling flat after touching a day’s excessive of Rs 3,716 on thirteenth August, regardless of the corporate saying that its subsidiary, L&T Power Greentech Ltd, has entered right into a joint improvement settlement with Japan’s ITOCHU Company to develop and commercialise a 300 KTPA inexperienced ammonia mission at Kandla in Gujarat.
Below the deal, ITOCHU will offtake the product for bunkering functions in Singapore, aiming to advertise using clear power within the maritime sector.
L&T had acquired land at Kandla final 12 months for inexperienced hydrogen and inexperienced ammonia initiatives. ITOCHU acknowledged that the partnership will facilitate the introduction of low-carbon ammonia as a zero-emission gas, with Kandla serving as its major manufacturing hub for bunkering operations in Singapore.
L&T mentioned the collaboration aligns with its imaginative and prescient of driving a cleaner, greener future by way of sustainable enterprise practices.
At 2:23 PM, the shares of L&T have been buying and selling 0.35% greater at Rs 3,699 on NSE.
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