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The largest engineering and construction conglomerate of India, Larsen and Toubro Ltd (L&T) has decided to enter into Brazil and South Africa by early 2009. According to the official of the company, L&T is planning to start its operation in oil and gas, cement and paper industries in the two countries by next year. Initially, L&T is likely to tie-up with its existing partner Infotech in South Africa to start its function there. Mentioning about Brazil, the official said that the company has chosen the country so as to keep its prices high and thereby earning considerable profit.
The Mumbai-based Indian conglomerate, L&T operates in diverse sectors like construction, hydraulic equipment, electrical and electronic power services, fertilizer projects, medical electronics, financial services and information technology. The company has its office in the US, Europe, Middle East and Japan besides its domestic presence. With new plan of exploring Brazil and South Africa, L&T is likely to touch new heights in the emerging field of diverse business.
