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L & T invests Rs. 600 cr for IT and engineering services

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CIOL Bureau
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PUNE: Larsen & Toubro Engineering Limited (L & T) is laying greater focus in IT and engineering services. A M Naik, chairman and managing director, L & T said, the company would be investing Rs. 600 crore for this purpose this year. Naik was in Pune to receive the `Outstanding Chief Executive' award given by the Indian Institute of Industrial Engineering (IIIE).

An IT engineering campus has been planned in Pune and work on this project is expected to begin in the year 2006. There are plans to take on 3000 professionals in the next four years. The company is making significant investments in infrastructure in various centers such as Chennai, Bangalore and Mumbai. Some of these facilities are likely to become operational in the next 12 to 18 months.

The company has identified information technology and related services as a thrust business and accordingly intends to strengthen its presence in this industry. There are plans to explore possible acquisitions in India and abroad to accelerate growth in this segment.

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