L&T joins hands with Mitsubishi for boiler manufacturing
17 Apr 2007
Mumbai:
Engineering and construction major Larsen &
Toubro (L&T) will set up a boiler manufacturing
facility along with Japan''s Mitsubishi Heavy Industries
(MHI), with an engineering facility located in New Delhi.
The
agreement follows a technology transfer and license
pact signed recently between the two companies.
L&T ans Mitsubishi Heavy Industries have signed a joint venture agreement to set up a manufacturing facility with a capital base of around Rs300. The plant will manufacture super-critical boilers catering to boiler requirements for plants with capacities between 500 mw to 1000 mw.
L&T says that manufacturing would commence in the later part of 2008-09.
In
a statement the Indian company said, "The establishment
of the joint venture represents a favourable meshing
of the aspirations of both the partners. We have been
scouting for an equipment partner possessing advanced
technologies while MHI has been seeking a foothold in
power generation operations within India''s rapidly growing
market" L&T said.