Indian engineering and construction giant Larsen & Toubro (L&T) has announced that its hydrocarbon business unit has secured a major contract worth $1.5 billion from Saudi Aramco for a key carbon capture and storage (CCS) project in the kingdom.
Under the agreement, L&T Energy Hydrocarbon (LTEH) will provide comprehensive engineering, procurement, and construction (EPC) services for Phase I of Aramco’s ambitious Carbon Capture & Storage (CCS) hub, a project aligned with Saudi Arabia’s broader sustainability and net-zero goals, according to a report by CNBC TV18.
The contract is part of Aramco’s Accelerated Carbon Capture & Sequestration (ACCS) initiative, which aims to significantly reduce carbon emissions while enhancing the company’s CCS capacity. The initiative is expected to play a vital role in supporting Saudi Arabia’s Vision 2030 and its commitments to decarbonization and climate change mitigation.