Business Daily from THE HINDU group of publications
Friday, Aug 07, 2009
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Business Daily from THE HINDU group of publications Friday, Aug 07, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook
Mr J.P. Nayak, Chairman, President (Operations), L&T, at a press conference in Chennai on Thursday. —Bijoy Ghosh Our Bureau Chennai, Aug. 6 L&T has decided to restructure internally to focus better on the growing opportunities from the railways sector, its President (Operations), Mr J.P. Nayak, told a press conference on Thursday. L&T is today mainly a contractor for railway jobs such as track laying and electrification. It gets business worth about Rs 3,000 crore from the Railways. Mr Nayak said there are areas where L&T could partner the Railways, such as in building a plant for them. The company has built a wheel and axle plant for the railways, he said, adding that more opportunities were emerging such as in themanufacture of locomotives or rolling stock. Mr Nayak, who is chairperson at the Confederation of Indian Industry’s Suminfra 2009 infrastructure conference here, said that after several decades the Railways is now open to public-private partnerships. He told newspersons that L&T would “create a separate entity within the company”, which will be an aggregation of the existing marketing, design and manufacturing arms doing railway work today. He said work on the Ennore shipyard would proceed on schedule as most of the required land had been acquired. The project has been reconfigured for producing naval ships instead of merchant vessels as originally planned. L&T plans to invest about Rs 1,500 crore in the project, which will be executed by a separate company — a joint venture with the Tamil Nadu Government. More Stories on : Outlook | Railways | Larsen & Toubro Ltd
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