L&T arm executes twin contracts in Dubai

Larsen & Toubro Limited (L&T) announced that the company's transportation infrastructure business vertical has executed twin contracts from the Roads and Transport Authority (RTA) of Dubai for the development of the Latifa Bint Hamdan Corridor.The first contract ranges between Rs 2,500 to 5,000 crore and involves the development of a new road connecting Al Khail Road with the extension of Latifa Bint Hamdan Street, along with the construction of bridges, tunnels and associated road works.This project will enhance connectivity between Al Khail Road, Latifa Bint Hamdan Street and Al Meydan Street and improve access to nearby development areas," the company said in a regulatory filing.L&T share price: Shares of Larsen & Toubro Limited were trading at Rs 3,774.20 per script as at 13:18 on BSE after a Rs 23.20 jump per unit.Also read: L&T-Mitsubishi to build world's largest APM system for Dubai's Al Maktoum International AirportThe second order, ranging between Rs 1,000 to 2,500 crore, spans the development of parts of Al Meydan Street, including the construction of a new interchange and associated at-grade roads to serve development projects in the area and improve traffic flow. The scope of this contract also includes the construction of a cycling track connecting it with the existing cycling network and contributing to an integrated route from Al Qudra to Jumeirah.According to L&T, both the projects are scheduled for completion by the end of 2028.The overall Latifa Bint Hamdan Corridor will extend approximately 12 km and strengthen connectivity between Dubai’s key road corridors, including Sheikh Zayed Road, Al Khail Road, Al Meydan Street, Sheikh Mohammed bin Zayed Road, Sheikh Zayed bin Hamdan Al Nahyan Street and Emirates Road.