Co to get into solar power, underground structure segment.
Larsen & Toubro Limited (L&T) India’s largest engineering and construction conglomerate is planning to foray into new construction segments including solar power and underground structure. The construction division of the company is also planning to recruit 3,000 to 5,000 people including freshers in the next few years.
L&T recently entered into construction of sea ports (in Orissa), airports (in Mumbai) and power plants. It has plans to build ultra mega power plants in the next five years.
In December last year the company floated L&T Power Development Company, to foray into power generation business on its own. The company has bid for few ultra projects including the upcoming Mega Ultra Power Plant in Kakinada.
K V Rangaswami, president – construction and member of the board, Larsen & Toubro told Business Standard at the sidelines of 10th anniversary of Build India Scholarship (BIS) Conclave, an initiative of L&T in association with IIT Madras and IIT Delhi, that the company is now planning to venture into new verticals including solar energy and underground structural constructions. To start with the company is planning to try solar energy construction at its premises in Chennai.
He stated L&T has given a proposal to Tamil Nadu government for constructing an underground car parking area at T. Nagar to de-congest the area, the government response is awaited.
L&T – Construction division project order is growing at 30 to 35 per cent year on year. Current order boos size is about Rs 36,000 crore, which will be executed in the next two years. To execute these projects the company needs man power.
The construction division alone is planning to recruit 3,000 to 5,000 people, including 300 engineering graduates, 500 diploma holders and 50 students from IIT Chennai and Delhi, 100 post graduate engineers, 100 graduate trainees and 2,500 lateral recruits, who has two to five years of experience.
Rangaswami said there are about 260 engineering colleges in Tamil Nadu and produce thousands of students every year, but unfortunately the pass outs are not employable. The current education system does not meet the industry requirements.
Speaking about the BIS initiative he said that L&T is sponsoring fresh engineering graduates who want to pursue M Tech in Construction Technology & Management in IIT Madras and Delhi. In the last 10 yeas more than 7,000 graduates are sponsored by L&T, he noted.
