Web Exclusive | June 2013
L&T to bid for international hydrocarbon projects
Larsen & Toubro plans to bid for hydrocarbon projects outside the country to expand its presence in global market. The engineering major is already getting into the domestic defence sector worth around Rs 8,000 crore. As part of defence thrust, the company has bid for a Rs 4,000-crore contract from the Coast Guards and is also plans to bid for an equal amount of contracts from the Navy.
On global side, L&T is looking at markets including Russia, Malaysia, Indonesia, Southeast Asia, Africa, apart from West Asia and the US, where it currently has a significant presence in the hydrocarbons business, L&T president for heavy engineering) MV Kotwal said. in Mumbai on June 17. He said that the company has a huge opportunity in the hydrocarbons sector in the international market.
The company recently entered the Russian market by bagging a Rs 250-crore contract. There is still a four-times potential business there which the company plans to tap, he said.