L&T Bids for Rs.4,000-Cr Defence Contract; Bullish On Foreign Markets
By PTI
Bangalore: To expand its presence in global market, engineering major Larsen & Toubro plans to bid for hydrocarbon projects outside the country, even as it is aggressively getting into the domestic defence sector worth around Rs.8,000 crore.
As part of defence thrust, the company has bid for a Rs.4,000-crore contract from the Coast Guards and is also plans to bid for an equal amount of contracts from the Navy.
On the international side, L&T is looking at markets including Russia, Malaysia, Indonesia, Southeast Asia, Africa, apart from West Asia and the U.S., where it currently has a significant presence in the hydrocarbons business, L&T president for heavy engineering) MV Kotwal said.
"We see a huge opportunity in the hydrocarbons sector in the international market. We recently entered the Russian market by bagging a Rs.250-crore contract. There is still a four-times potential business there which we plan to tap," he said.
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