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Larsen & Toubro (L&T) is looking at the possibility of floating joint ventures companies with Indian Railways to manufacture equipments for the railways. Mr. JP Nayak, board member and president (operations) at L&T revealed that there company is interested in putting up a joint venture with the government. Mr. Nayak said that the Indian Railways, which has two locomotive manufacturing units, is planning to come up with another unit in India and hence L&T is interested in floating joint venture companies with the railways.
Mr. Nayak who was speaking at the sidelines of a CII seminar in Kolkata on Friday further revealed, that the railways has decided to set up new manufacturing capabilities through the public-private partnership route and hence L&T is looking at joint venture initiative. L&T has also decided to invest Rs 2500 crore during the current financial year to augment capacities at its growth centers. The money will be utilized for building a ship yard in Tamil Nadu as well as augmenting facilities at all locations across the country.
