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Our Bureau

Mumbai, Dec. 21

Larsen and Toubro, which is making a major foray into the power sector, said it would generate 5,000 MW power over the next five years.

The engineering and construction company has floated a new arm — L&T Power Development — to take up major power generation projects, Mr A.M. Naik, L&T Chairman and Managing Director, said here on Friday.

The company would invest around Rs 5,000 crore over the next five years, he told newspersons on the sidelines of a function organised here to celebrate the birth centenary of L&T’s co-founder H. Holck Larsen.

Though the company had lost the race for the Krishnapatanam ultra project in Andhra Pradesh, it would stick to the target, he said. L&T would be mainly going in for thermal power projects. In November, L&T had tied-up with Japan’s Mitsubishi Heavy industries, to make steam turbines and generators. It is setting up a separate joint venture with an initial capital outlay of Rs 800 crore.

L&T Power Projects, a unit of L&T, also has earlier entered into a joint venture with Mitsubishi for making boilers.

Both the joint ventures would come up at Hazira in Gujarat.

More Stories on : Power | Diversification | Larsen & Toubro Ltd

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