L&T scouting for partner for marine installations

Aiming to be a major player in the marine installation segment, Larsen and Toubro (L&T) is looking for an experienced international partner to float a joint venture or make a combined investment.

The engineering and construction firm, which currently outsources marine installation work and does engineering and fabrication works on its own, is looking to tap Indian and Middle East markets through this joint opportunity.

"Today that (marine installation) is the only area we outsource... engineering and fabrication we do ourselves. We are looking for a company who does this and who may want to go and invest with us specifically for installation in the Indian markets and the Middle East," said L&T president (engineering and construction), K Venkataramanan.

The company is also trying to have a comprehensive plan in the hydrocarbon sector by having another office in Abu Dhabi. "We are trying to make a comprehensive plan for hydrocarbon in Abu Dhabi by establishing an engineering and project management office," he said.

L&T is also building a new engineering centre in New Delhi besides strengthening operations in Bangalore, Mumbai and building additional capacity in Hazira, Gujarat.

"We have large fabrication facility at Hazira, which we are expanding by acquiring 100 acres of additional land adjacent to our existing facility. We are expanding our manufacturing facility both for fabrication and also for the platforms. We are also planning for additional facilities outside India," he said.