L&T cuts power gear prices

Larsen & Toubro has lowered prices for its power equipment and engineering business responding to the intense competition to grab a share of the shrinking pie. L&T, which has two JV companies with Japan's Mitsubishi Heavy Industries for manufacturing of supercritical technology-based boilers and turbine-generator sets for thermal power unit, has been hurt by domestic slowdown in power projects and intense competition in the sector. It recently grabbed an EPC order worth Rs 5,689 crore from Rajasthan Rajya Vidyut Utpadan Nigam for setting up two units of 660 MW supercritical thermal power project. Contact: Larsen and Toubro. Tel: 022-2261 8181. Website: www. larsentoubro.com