L&T to invest INR 250 billion into power business
Engineering and construction giant Larsen & Toubro has announced that it will invest INR 250 billion in the power generation business, including nuclear energy, over the next 5 years.
Mr AM Naik CMD of L&T said that "Power is going to be one of our focus areas in the coming years. It is an area we are looking at in a big way. If we do go for an initial public offer, if required, I do not see it happening before March 2011."
He added that while the immediate focus will be on thermal power, it will also go for nuclear energy eventually.
L&T had also forged a tie up with Japan's Mitsubishi to make steam turbines and generators, for which it had planned a separate venture.
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