L&T to focus on power
Heavy engineering giant Larsen & Toubro (L&T) on Tuesday said power would be a major thrust area for the company this fiscal and it plans to spend about Rs 2,500 crore as capital expenditure this year.
By PTI |
MUMBAI: Heavy engineering giant Larsen & Toubro (L&T) on Tuesday said power would be a major thrust area for the company this fiscal and it plans to spend about Rs 2,500 crore as capital expenditure this year.
India is a power deficit country and keeping that in view, L&T would be concentrating on power, L&T Chairman & Managing Director A M Naik told reporters here.
The company is planning to set up super critical boilers and super critical turbines plant in the country to generate power.
For super critical boilers, L&T has tied up with Mitsubishi, Japan, and formed a JV company. Currently, L&T has shortlisted two locations for building the factory, L&T Operations President K Venkataramanan said.
Presently, L&T's power business is to the tune of Rs 800 crore-1,000 crore and it may go up to Rs 4,000 crore in the next four-five years, Naik said.
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