L&T and Howden form Joint venture
Indian construction and engineering major, Larsen & Toubro (L&T) has entered into a joint venture with UK-based Howden to manufacture axial fans and air pre-heaters for Indian thermal power plants. The JV will invest around Rs100 crore for setting up of an industrial facility and related infrastructure in Hazira, Gujarat.
Ravi Uppal, MD & CEO, L&T Power, said: “L&T and Howden possess complementary strengths and make a winning combination in the Indian power generation market. The agreement is a landmark for both organizations, and the JV will aim at delighting its customers with steadfast project management and products of superior technology.”
The partnership will give L&T access to superior technology to manufacture components that are used for running energy efficient thermal power plants. The JV firm which is expected to start operation by 2011 will manufacture axial fans and air pre-heaters for plants ranging between 100 MW to 1200 MW. The agreement will also pave the way for British company to tap India’s growing power plant equipment market.
“India provides one of the major growth opportunities in the power generation market worldwide over the coming years, and Larsen & Toubro is one of the most respected companies in India. The combination of Larsen & Toubro and Howden in this new joint venture is a completely natural fit and opens up wonderfully exciting opportunities into the future,” said, Bob Cleland, CEO, Howden Global.
The manufacture of fans and air-heaters will augment L&T Power’s portfolio of products from its own operations and operations of its existing joint ventures. L&T also has joint ventures with MHI for the manufacturing of Super Critical Boilers, Steam Turbines and Generators.