L&T signs JV pact with Kuwait firm

Engineering and Construction major Larsen & Toubro (L&T) has signed a joint venture agreement with a subsidiary of Kuwait-based Bader Al Mulla group.

The JV, Larsen & Toubro Kuwait Construction WLL, will be registered as a local company in Kuwait and will concentrate on oil and gas construction projects, power and infrastructure and electro-mechanical construction, as per a release issued to the BSE.

The two companies hope to benefit from the construction boom in Kuwait, specifically in the sectors of oil refining and infrastructure development, it said.