L&T Clarifies $8.7 Billion Kuwait Oil Project Report
Mumbai, January 13, 2026: Engineering and construction major Larsen & Toubro (L&T) on Tuesday issued a clarification regarding a media report on possible cancellation of oil project tenders in Kuwait, stating that the projects mentioned were not part of the company’s order book.
The clarification follows a news article published on January 13, 2026, on a financial website that reported Kuwait was considering cancellation of oil project tenders worth 8.7 billion dollars, which reportedly led to a decline of nearly 3 percent in L&T’s share price.
In a formal response submitted to stock exchanges, L&T said that the projects referred to in the media report were not included in its existing order book and therefore do not impact the company’s current business position.
The company further stated that it cannot comment on the status of tenders or the commercial decisions of its clients, maintaining its policy of confidentiality on client-related matters.
The clarification was issued in response to an exchange query seeking confirmation of the report and to ensure accurate disclosure for investors.