India’s Larsen Plans $12 Billion Expansion Led by Green Energy
- Company is scouting for land for green hydrogen facility
- Open to monetizing green unit over time, CEO Subrahmanyan says
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India’s largest engineering and construction company Larsen & Toubro Ltd. plans to invest as much as $12 billion over the next five years, a third of which will go toward expanding its clean energy business.
The company intends to build 2-3 million tonnes of green hydrogen and ammonia capacity with an investment of close to $4 billion. L&T has approached some coastal states in India to acquire 500-1,000 acres of land for hydrogen facilities, Chief Executive Officer SN Subrahmanyan said in an interview in Mumbai. He will take charge as group chairman in October when veteran AM Naik retires.