While the pipeline is still intact, we expect a 3-4 month delay ,“ Subramanian Sarma, man aging director, L&T Hydrocarbon Engineering, told ET.L&T had earlier said that demonetisation had impeded growth in the early part of 2017-18 but it was hopeful that business will pick up in the second half. The company has an overall growth guidance of 12-14 per cent for new orders and 12 per cent for revenue for the year.On Wednesday, the company said it has bagged a Rs 1,700-crore hydrocarbon pipeline order in Kuwait. The company is now eyeing orders from North African countries to make up for the slowdown in its other markets.“India has been our core market and we will remain extremely active. But we can't depend on a single market anymore. We will remain active in the Middle East and our plan is to expand to north and other parts of Africa.

Source: The North Africa Journal September 21, 2017 03:33 UTC