L&T confident of clinching at least one airport deal

Mumbai: Engineering giant Larsen and Toubro (L&T) is confident of bagging the construction rights of at least one of the two airports which were handed over to private parties recently, chairman and managing director A M Naik said on Friday.
“We are in serious talks with both the operators (GVK Group for Mumbai airport, and GMR Group for the Delhi airport),” Naik told shareholders at the company’s 61st annual general meeting here on Friday.
Naik has reasons to be optimistic. L&T is involved in some way or the other with three most recent airport projects. The company has a 19% stake in the Bangalore greenfield airport, is the constructing contractor for the Hyderabad greenfield airport for the GMR group, and has already handed over the Calicut airport.
Naik said the company has earmarked Rs 1,200 crore towards capital expenditure for the ongoing projects.
25/08/06 Rabin Ghosh/Daily News & Analysis

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