L&T eyes $1 billion from electrical business; plans capacity addition
12 Apr 2007
Mumbai:
Mumbai: Engineering and construction major Larsen
and Toubro expects its electrical business to touch
$1 billion revenue mark by 2011 -an over two-fold jump
from current levels. L&T will invest an additional
Rs120 crore in ramping up switchgear and valve manufacturing
capacities over the next three years.
"We expect our electrical business to contribute
one billion dollars to our overall revenues in the next
four years. The electrical business is growing rapidly
and 25 per cent of the projected one billion dollar
revenues from it would come from the overseas market,"
L&T president operations and director A N Mukhija
said.
He was talking to reporters on the sidelines of the
inauguration of the company''s fourth switchboard manufacturing
facility at Coimbatore.
"We plan to achieve a switchboard production capacity
of 13,000 panels per annum by 2009 which would be further
increased to 17,000 panels by 2010. At present, the
company produces 7,000 switchboard panels per annum,"
Mukhija said.
L&T has initially invested Rs35 crore in the facility.
The company also inaugurated its fourth manufacturing
facility for its 50:50 joint venture with US-based Flowserve,
Audco India Ltd (AIL).
The company would invest an additional Rs120 crore in
both the manufacturing facilities over the next three
years to ramp up capacity.
The
Coimbatore facility would manufacture valves worth Rs1,600
crore by 2010 and the newly-inaugurated facility would
manufacture products worth Rs300 crore by then.