Source: Reuters

BANGALORE, July 5 (Reuters) - India's top engineering and construction firm, Larsen & Toubro Ltd. (L&T), said on Thursday it will launch a $1 billion infrastructure fund in one to two months.

"Various institutions around the world will invest in that fund...L&T will invest $50 million in that. The fund will work independently to promote various infrastructure projects in India," Chairman A.M. Naik told reporters.

Naik also said that L&T will form 3 wholly-owned units for power, shipbuilding and railways to tap growing business potential as Asia's third-largest economy steps up investment on infrastructure projects to boost growth.

Full Story...

Posted by pichu at July 5, 2007 1:59 PM