L&T to foray into power generation biz
L&T to foray into power generation biz India`s largest engineering company, Larsen and Toubro (L&T), has floated a new arm, L&T Power Projects (L&T PPL), to foray into the booming power generation business, reports Economic Times. L&T PPL will concentrate more on generation rather than transmission and distribution. The company is considering bids for the ultra-mega power projects (UMPPs) at Krishnapatnam and Tilaiya and is likely to tie-up with other companies for the Rs 180 billion UMPPs. >It is believed to be gearing up to bid for other mega power generation projects in the country. For initial investments, L&T PPL will get the money from the the USD 1 billion infrastructure fund of the parent company.
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Shares of the company gained Rs 2.00, or 0.07%, to end at Rs 2,814.6. The total volume of shares traded was 107,938 at the BSE (Monday).
