L&T to invest $150 mn overseas
The company wants to put up a modular fabrication facility in the Middle East and a switchgear manufacturing plant in China.
By PTI |
MUMBAI: Infrastructure major Larsen and Toubro (L&T) on Friday said it would invest USD 100 to 150 million over the next 18 months overseas.
"The proposed investment will predominently go to the Middle East and in China," company's Chief Financial Officer Y M Deosthalee told reporters on the sidelines of a CII seminar here.
He said the company wants to put up a modular fabrication facility in the Middle East and a switchgear manufacturing plant in China.
The company is also looking for a joint venture partner for rubber processing in China, he said, adding the partner is yet to be finalised.
Deosthalee said the company would finance the proposed overseas investment through internal accruals and debt.
The order book position of the company, as on August 31, stood at Rs 30,000 crore, of which close to 18 per cent was from overseas.
The company had earlier mentioned that it would develop a huge facility for ship building in India which can construct large vessels, including very large container carriers.
Replying a question, Deosthalee said the company is yet to finalise the location for the ship building facility.
On a previous ocassion, he had said the company was scouting for a location both in the eastern as well as western costs of the country, which include Hazira and Kakinada.
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