The hydrocarbon unit of India’s Larsen & Toubro, LTHE, takes the top spot on our list thanks to a steady stream of projects mostly out of Saudi Arabia. The company reported turnover of $2.3 billion for the year ending March 2020, up from the previous year.
LTHE’s key projects include Saudi Aramco’s Hasbah II Gas Increment Project, which has been completed, the Marjan Increment Programme Offshore Oil Package 2, which is ongoing, and the Al Dhafra Petroleum Operations’ Haliba Development Project in the UAE. The latter two projects are expected to continue in the coming months, and with the long-term agreement between LTHE and Saudi Aramco, we can expect to see more activity between the two companies.
In response to the COVID-19 pandemic, L&T has set aside $70 million per month to support contract workers during the lockdown. Commenting on the company’s preparedness to fight this pandemic, Mr. AM Naik, Group Chairman, Larsen & Toubro, said, “L&T has always stood by the nation in its hour of need.
We are helping India’s fight against COVID-19 by way of immediate funding, and through a range of welfare initiatives including converting our training schools into Isolation Centers. We are also leveraging our engineering and construction expertise to help the authorities deal with the crisis.”