Larsen to invest $3.3 bn in Gujarat’s infrastructure
By IANSWednesday, January 12, 2011
GANDHINAGAR - In another major deal for Gujarat at its ongoing global summit, the $10 billion engineering, construction and technology giant Larsen and Toubro Wednesday said it will invest Rs.15,000 crore ($3.3 billion) in the state’s infrastructure.
“We have been investing in Gujarat for over three decades and such investments will continue,” the company’s chairman and managing director A.M. Naik told the Vibrant Gujarat Summit attended by the Who’s Who of India Inc.
“We have signed memorandum of understanding to invest Rs.15,000 crore,” Naik said in what has been another major deal entered into by the Gujarat government under Chief Minister Narendra Modi.
In one of the side events of the summit, the company inaugurated India’s first private facility for manufacturing supercritical boilers and turbine generators at Hazira in Surat district in collaboration with Mitsubishi of Japan.
“We are proud to be the first private sector company to set up such a facility in India. It is imperative that India builds domestic capacity for such critical equipment for the power sector,” Naik said.
