To raise capital for its L&T Infrastructure Development Projects, the unit that builds roads, ports and other infrastructure, Larsen and Toubro (L&T), India’s biggest engineering company, is in talks with investors. The company is considering raising money from investors including sovereign and infrastructure funds by March.
The Odisha government has entrusted a road project, estimated to cost at Rs 1,293 crore, to L&T Infrastructure Development Projects (L&T IDPL). The contract is awarded on a build-operate-transfer basis. L&T IDPL has sought a grant of Rs 465.30 crore for four-laning of the 161.73 km Sambalpur-Rourkela section of the State highway.
A combination of a good rainfall, improvements in economic indicators and the urgent rollout of stranded projects by the government bode well for India's construction sector. With such positive signals the industry is hoping the clean-up act is for good, reports CHARU BAHRI.
Bank credit is fast running out. Instruments and financiers to support the next wave of infrastructure development are works in progress. While infrastructure finance appears to be transiting towards maturity, Charu Bahri wonders if it is happening quickly enough.
For two of its road projects in Maharashtra, L&T Infrastructure Development Projects (L&T IDPL), a subsidiary of Larsen & Toubro Ltd, and one of the pioneers in infrastructure development in India, has achieved financial closure on November 30.
Construction work on the Hyderabad metro rail will start shortly as L&T Hyderabad Metro Rail, a subsidiary and special purpose vehicle of L&T Infrastructure Development Projects, has achieved financial closure for the project. Hyderabad Metro Rail will start handing over land to L&T in a phased manner.