German chemical major Covestro awards L&T Technology Services Multi-Million Dollar ER&D project

India , March 23, 2018: Germany’s Covestro, a world-leading manufacturer of high-tech polymer materials, has chosen L&T Technology Services Limited (NSE: LTTS), as one of its major engineering services partners to implement digitalization based Engineering Programs across Covestro’s global locations. L&T Technology Services, a global leading pureplay ER&D services company, has been awarded a multi-million dollar contract by Covestro to execute these engineering transformational programs.

Covestro isrunning a digitalization program for engineering, operations and maintenanceactivities: “OSI2020” (Optimized System Integration). Within this program,L&T Technology Services has been selected as the engineering partner todrive digital transformation across Covestro’s 8 global locations,especially in the area of data migration.

Covestro hasalso embarked upon another strategic initiative to harmonize their GlobalEngineering Standards & Practices to increase efficiency of CapitalInvestment Projects. LTTS is the preferred partner to assist Covestro indefining, developing and maintaining these standards in line with globalpractices. This will include updating & improving engineering standards& specifications backed up with knowledge management & cognitivelearning tools.

“L&TTechnology Services has a proven track record of delivering innovativesolutions, processes, and technologies for enterprises across the globe. We areconfident that the potential and experience of LTTS will enable us toincorporate solutions to deliver the implementation of Digital Transformationand Standards Harmonization. Their engineering experience in executing globalprojects will help Covestro to achieve the best-in-class Standards to executeprojects. Our objective is to be prepared by having a comprehensive contractdefining the full scope of work, meeting the requirement for different projectphases and execution strategies such as FEL3, EPCM, EPC, etc. With theseinitiatives, we will optimize our project costs, timelines to ensure reliableand safe operations,” commentedFerry Feldbrugge, Head of Global Projects& Engineering and Global Technical Contracting, at Covestro.

“It is ourprivilege to enter into this engineering partnership with Covestro, the world'sleading supplier of high-tech polymer materials, and work with them onsolutions that will benefit Covestro’s strategic vision. These programs willdrive Covestro’s digital transformation and standardization journey across theglobe. We look forward to leveraging our unique technology capabilities and ourdomain expertise in plant engineering and asset management to assist Covestroin achieving its objectives of Efficient Production and EngineeringExcellence,” said Amit Chadha, President Sales & BusinessDevelopment and Member of the Board, at L&T Technology ServicesLimited.  

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