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L&T to focus on upstream oil, gas activity

Our Bureau

Mumbai , May 31

With a net gearing of only 0.1, Larsen & Toubro has enormous flexibility on the funds front as and when opportunities come up for both organic and inorganic growth.

One of the company's focus area is upstream oil and gas activity, which it will strengthen, said Mr Y.M. Deosthalee, Director and Chief Financial Officer, L&T.

overseas acquisitions

The company will also be looking for overseas acquisitions in the area of gas processing, a growing area of business for it, he said. The company has won seven projects overseas in the last few months in coal gasification and the Indian industry will also be soon looking at this activity, he said.

There is going to be an increased focus on design engineering, with new design engineering centres to come up at Faridabad domestically and in the West Asia.

There are phenomenal opportunities in the hydrocarbon sector in the West Asia, he said. Domestically the national highways projects present a Rs 36,000 crore opportunity, airports Rs 40,000 crore, and capacity expansion at major ports Rs 60,000 crore. The company is also looking at container terminals at Mumbai and Chennai.

shipyard

The company is scouting around for a shipyard of sufficient draught in the country, said Mr Deosthalee.

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