Indian construction group $LT has won a major engineering, procurement, and construction (EPC) contract in the Middle East, valued between Rs 5,000 - Rs 10,000 crore. The contract has come from Kuwait Oil Company. Under the scope, $LT will construct six new crude oil storage tanks, each designed with an operating capacity of 618,000 barrels, alongside their associated facilities. The contract also requires installing new pipelines and carrying out extensive upgrades to Kuwait's crude loading and export network, aimed at seamlessly managing increased production levels and boosting overall crude handling capabilities. The company has reported a sales growth of 16% CAGR and profit growth of 17% CAGR over the past 3 years. With such new order wins, it's sales and profits are expected to further grow in the coming years.

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