Business Daily from THE HINDU group of publications
Friday, Jul 06, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Jul 06, 2007 ePaper |
|
|
|
|
|
|
|
Corporate
-
Outlook
Mr A.M. Naik
Our Bureau Bangalore, July 5 L&T will soon set up a $1-billion infrastructure fund in the country. The Chairman and Managing Director, Mr A.M. Naik, told newspersons that initially, about $500 million would be raised for various projects. “L&T will contribute about $50 million as seed capital for the fund. We expect to set up this fund in 2-3 months.” The fund will be used for kickstarting various infrastructure projects in the country, he added. Dumping duty
Mr Naik also made a strong case for slapping 25 per cent anti-dumping duty on Chinese imports. He said that the duty should be used to force China to free float its currency. According to him, the capital goods industry is the backbone of any nation and because the Chinese yuan is artificially pegged low, the Indian capital goods industry continues to suffer. With the rise in rupee, there is further advantage for the Chinese industry, he added. Mr Naik said that L&T is planning to set up separate companies for its shipbuilding and power equipment ventures. It has a backlog order of about Rs 35,000 crore from last fiscal. It has tied up with Mitsubishi Heavy Industries to produce supercritical boilers and turbines. According to Mr Naik, the Bangalore International Airport project is on schedule and is expected to be operational by April 2008. Stating that there are no structural faults in the airport, he said that L&T would also build a road leading up to the airport soon.
More Stories on : Outlook | Diversified | Forex | Larsen & Toubro Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|