Source: Indian Express

Bangalore, July 5: Construction and engineering company Larsen and Toubro Ltd plans to launch a $1-billion infrastructure fund in a month or two, its chairman and managing director A M Naik said today. "May be it will be announced shortly, in a month or two," Naik told reporters, adding that L&T would infuse the initial seed money of $50 million.

"Various institutions around the world would invest in this fund. Whoever wants to put long-term money, they will invest," he said. "This fund will work independently to promote various infrastructure projects in the country." The fund is aimed at accelerating the public-private partnership in India's infrastructure development, Naik said.

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Posted by pichu at July 5, 2007 9:58 PM