Larsen and Toubro Ltd (L&T), India’s biggest engineering and construction firm, has decided not to participate in the tender issued by GAIL (India) Ltd for constructing three new liquefied natural gas (LNG) carriers for use by state-run natural gas firm to ship the commodity from the US from January 2019, citing a clause that requires shipyards to hold equity stake of as much as 13% in the LNG carriers that are to be built locally.
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