Industry

L&T to bid for bullet train project

L&T Executive Chairman A. M. Naik  

Larsen & Toubro (L&T) is gearing up to bid for the government’s ambitious bullet train project, its Executive Chairman A. M. Naik, said on Friday. “We will certainly participate in the bidding of the bullet train project. We are already in talks with global bullet train manufacturers and technology suppliers for tie-ups. We will be much ahead than others when the project comes for bidding. We will target that project,” Mr. Naik told shareholders at the company’s 69 annual general meeting (AGM) here. He was responding to a shareholder’s query.

He said that L&T had emerged as the lowest price bidder for the Sardar Vallabhbhai Patel’s Statue of Unity project in Gujarat though the contract was yet to be awarded. The company is also expecting bigger opportunities from infrastructure projects, including metro rail.

“We have also won two major prestigious contracts in the Middle East, for Riyadh and Doha Metro projects during financial year 2014, contributing significantly to the order inflow growth during the year. We are participating in bidding for further such prospects in the region,” he added. He said the thrust on strengthening the rail network held good prospects for the company’s railways business. “We have already secured an initial order of Rs.7,000 crore in consortium with a Japanese company for a major section of the Dedicated Freight Corridor, and are bidding for more packages and we are expecting total orders of Rs.20,000 crore. We are also exploring international markets, especially the Gulf countries,” Mr. Naik added. On the outlook he said despite continuing slowdown, macro environment had shown early signs of recovery. With the dawn of a stable government the economy would improve gradually during this year.

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Printable version | May 18, 2021 9:06:34 PM | https://www.thehindu.com/business/Industry/lt-to-bid-for-bullet-train-project/article6342744.ece

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