Loading…
Larsen & Toubro's subsidiary L&T Valves established a new manufacturing unit in Al Jubail, Saudi Arabia, to boost local production of on-off valves and serve the Middle East and Africa. The announcement was made on Thursday, 16 May 2024.
L&T Valves Arabia, a wholly-owned subsidiary of L&T Valves, is setting up a manufacturing facility in the Eastern Province near Al Jubail, Saudi Arabia, to make its full valve range from October, supporting Saudi Aramco's IKTVA programme.
L&T Valves Arabia, a subsidiary of L&T Valves, is setting up a manufacturing facility in the Eastern Province near Al Jubail, Saudi Arabia. The plant is scheduled to start production in October 2019 and will make the full valve range plus automation and digital solutions.
Private equity firms Advent International and KKR have made offers reported at around Rs 3,000 crore ($400-500 million) to buy 100% of L&T Valves from Larsen & Toubro, though no deal has been agreed.
Larsen & Toubro approved a scheme of arrangement with its subsidiary L&T Valves Ltd, a deal valued at 437.9 million rupees in cash.
