Comments
L&T said it has acquired 50 per cent stake in L&T-Ramboll Consulting Engineers Ltd (LTR) held by Ramboll Denmark.
With this acquisition, LTR now becomes a wholly-owned subsidiary of L&T.
L&T said the company will continue to offer single point ‘concept to commissioning’ consultancy services for infrastructure projects like airports, roads, bridges, ports and maritime structure, including environment, transport planning and other related services.
LTR was incorporated in 1998 with L&T contributing 50 per cent of the authorised and paid-up capital. Ramboll Denmark and Industrialization Fund for Developing Countries (IFU) contributed 26 per cent and 24 per cent, respectively. Ramboll Denmark purchased IFU’s 24 per cent stake in 2004.
LTR has about 250 engineers on board, with registered office in Chennai and regional offices in Hyderabad, Delhi and Mumbai.
Post-acquisition, the company will be renamed L&T Infrastructure Engineering Ltd.
S N Subrahmanyan, Senior Executive Vice-President (Infrastructure and Construction), said, “This acquisition is a significant move to strengthen our EPC offering in the infrastructure sector. With a track of successful projects and international exposure, L&T Infrastructure Engineering will be providing engineering services for infrastructure projects.”
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.