Infrastructure Leasing & Financial Services (IL& FS) and Larsen & Toubro (L&T) have tied up to jointly develop and implement large-scale infrastructure projects in various Indian states.
The combine has initially decided to focus on the non-telecom and power sectors. The thrust areas would be surface transport, water supply, urban development, ports and airports.
L&T and IL&FS will identify needs, conduct feasibility studies and develop financial structures. The two parties will provide the initial seed capital for the development work which addresses one of the key lacunas contributing to the failure of bids seeking private participation.
