Financial Daily from THE HINDU group of publications
Wednesday, Oct 13, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - New Projects


L&T to set up fabrication unit in Gulf region

Vimala Vasan

Abu Dhabi , Oct. 12

LARSEN & Toubro is planning to set up a mega modular fabrication facility in one of the Gulf states on the lines of its Hazira yard in Mumbai..

Mr Joseph Mathew, General Manager, International Business development, L&T, who is here to participate in ADIPEC 2004, told Business Line that the project was in an advanced stage of planning and the location in the Gulf would be disclosed shortly. The project is expected to get under way in a year's time.

"We are talking to investors at present. The project requires a huge waterfront area of close to 200 acres and the facility will be spread around 200,000 sq.yards," he said. The project, planned on a larger scale than the Hazira facility, is estimated to be capitalised at around $50 million and will employ a large workforce.

He said that the facility is aimed at servicing the regional market better, projecting the company's capabilities and enforcing its long-term commitment to this region.

L&T is planning the new fabrication facility to cater to projected demand from the Gulf states, Iran and Africa, Mr Mathew said.

The firm's future international operations are focused on the Gulf states and African countries such as Nigeria, Tanzania and Libya. Mr Mathew said that L&T is also planning to set up a full-fledged engineering centre in the UAE within six months to cater to the requirements of its construction projects in the Gulf region. The centre will have a staff of 40 to 50 persons initially and later be ramped up depending on demand, he said.

As part of a major overseas expansion and capacity building efforts, L&T is also looking at buying process related companies in the US and Europe.

In India, concerted moves are under way to set up two more modular fabrication yards in Managalore and Vizag for deep-sea retro fitment works, he said. A joint venture proposal for purchasing barges and pipelines is also being finalised with a major Indian corporation.

More Stories on : New Projects | Engineering

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Amara Raja bags Maruti order


Micro Labs dumps rofecoxib drug
Tata Power raises Rs 600 cr
Birla Corp seeks CLB stay on minority shareholders' petition
Corporates wary of proposed special audit
Merger of NFCL with NPIL
Euro Ceramics to invest Rs 100 cr to hike output
L&T to set up fabrication unit in Gulf region
Bidding for global projects — PowerGrid ties up with Netherlands co
Hudco seeks to convert outstanding CIAL loan to equity
Kinetic bullish on auto components sales — Launches Comet at Rs 1.67 lakh
ONGC set to recover dues from Gujarat PSUs
IOC's borrowings shoot up 48 pc
Hyundai spare parts sales fetch more
Arch Pharmalabs out of BIFR purview



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line