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Indian Firm Larsen & Toubro Ltd. Secures $135M Qatar World Cup Stadium Contract

Larsen & Toubro Ltd. has secured a contract to build a $135M stadium for Qatar's 2022 World Cup, "a boost for the Indian firm facing a slowdown in its key Middle East market due to low oil prices," according to Tom Finn of REUTERS. A Qatari government official said, "As part of a joint venture, L&T will serve as a contractor building the 40,000-seat Al Rayyan stadium." L&T, which declined to comment, is "one of India's biggest industrial groups and is involved in infrastructure projects in the Gulf including the construction of a metro line in Doha." Al Rayyan stadium "will include cooling technology to help with Qatar's fierce temperatures." The stadium's capacity will be reduced to 21,000 after the tournament "with the upper tier of seats being sent to a developing nation" (REUTERS, 6/6).

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