L&T is looking at buying equity stake in coal mines in Australia and Indonesia and an announcement to this effect is expected in 2-3 months, news reports suggest. It is a part of the group’s strategy to focus on the power sector. According to Business Line, L&T is keen on bidding for ultra-mega power projects or pick up equity stake in other power projects.
It has set up two subsidiaries – L&T Power Projects Ltd, which will invest in power projects, and L&T Power Development Ltd, which will set up power plants.
The company aalready has a JV with Japan’s Mitsubishi Heavy Industries for manufacture of boilers and turbines. The JV bagged its first order to supply equipments to APGENCO’s 1,600 MW Krishnapatnam power plant (Please refer to our earlier posting -
http://indiapoweringahead.blogspot.com/2008/08/umpp-update-3-more-in-pipeline.html).
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