L&T to invest Rs 30k cr more in Orissa

Bhubaneswar : Construction and engineering major Larsen and Toubro Ltd (L&T) plans to set up another power plant and a three-million-tonne steel plant in Orissa at a combined investment of Rs 30,000 crore. The company had earlier, also planned a Rs 44,000-crore alumina and aluminium plant and a Rs 11,000-crore power project in Orissa. The new proposals have thus increased the company's total investment corpus in the state to Rs 84,000 crore. L&T's new 2,000-Mw power project, the company's second in the state, would also involve the association of the state government and an expenditure of about Rs 10,000 crore. L&T had earlier sought the approval to set up a 2,000 Mw power plant near Dhamra port. The project would require about 1,200 acres of land.

The company also plans to set up a three million-tonne steel plant and a captive power plant near Paradip, at a cost of about Rs 20,000 crore. It has already identified 600 acre of land and once a memorandum of understanding is signed with the Orissa government, the company would start work on the plant, Sailendra Roy, president, L&T, said on the sidelines of the Conclave Odisha investor summit today.