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Larsen & Toubro’s tech services and renewable energy arms are set to expand its presence in Europe, said a top official.
At a recent event in Mumbai, Amit Agarwal, Group Corporate Strategy, L&T, said the conglomerate has had a wonderful experience with its businesses in Europe.“Europe’s strength is in industrial technology and R&D. India needs technology, whereas India has its strengths in digital and IT sectors, hence, it’s a win-win.”
He said L&T’s Tech Sevices has a long-standing relationship with Europe. It provides engineering and design services to clients in Europe, including Airbus, Thales and Schneider Electric. It also has engineering and delivery centres in Germany and Sweden.
The company recently announced the opening of a new engineering Reserch and Development centre in Poland. “This centre will cater to global customers, with cutting-edge technology in automotive and mobility among others. Currently, it has the capacity to accommodate 150 people, and we plan to expand the capacity to accommodate up to 300 people in the next two years,” he said.
L&T has several business activities in France, including valves, rubber machinery, L&T Info Tech, and L&T Tech Services, among others.
“In fact, L&T Tech Services is firming up plans to open a centre in France, and an announcement will be made very shortly,” he informed.
Headquartered in Mumbai, Larsen & Toubro is one of the largest Indian multinational conglomerate companies. The 80-year-old company has business interests in engineering, construction, manufacturing, technology and financial services.
Given the impact of the non-renewable energy on the environment, several companies have now started to focus on renewable energy. He said, for L&T, too, there is a lot of focus on renewable energy.
“For the green energy business, we are in conversation with European partners to set up for electrolyser manufacturing. We are looking at the manufacturing of green hydrogen, advanced cell, chemistry cells and modules. For this, too, we are exploring partnerships with French and other European partners,” said Agarwal.
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