Economics
L&T Turns to Roads as Power Plants Stall: Corporate India
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Larsen & Toubro Ltd., Asia’s largest construction company by market value, is betting on road and rail orders in India and overseas to help maintain growth as power generation projects stall in the South Asian nation.
The company sees an “opportunity” of as much as $35 billion to build highways, rail networks and small airports in the next two years, Chief Financial Officer R. Shankar Raman said. Larsen added 65 billion rupees ($1.2 billion) of road construction contracts in the first quarter of the year that started April 1, he said.