L&T to ink JV with Toshiba
L&T to ink JV with Toshiba Larsen & Toubro (L&T) is close to signing a joint venture agreement with Japanese turbine manufacturer Toshiba, reports DNA. The company is believed to be in advanced stage of talks with the Japanese company and may ink a joint venture agreement shortly. The venture will manufacture and sell turbines for super-critical power projects, especially the ultra mega power projects (UMPPs). >The company had signed a similar agreement with another Japanese company Mitsubishi Heavy Industries (MHI) in April for manufacturing and selling boilers for power plants using super critical technology. The JV with Toshiba will accompany a technology transfer agreement and licence agreement; and will entail an investment of Rs 3 billion. 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)
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