L&T aims to further invest in UAE

Dubai, Feb 11 (UNI) Engineering conglomerate Larsen&Toubro (L&T) aims to boost its investment in the UAE to nearly 100 million dirham after setting up a 48 million dirham ready-mix concrete plant in Jebel Ali with a capacity of 240 cubic metres per hour.

The company, India's largest private sector engineering and construction firm, aims to invest 50 million dirham in a similar concrete plant in Abu Dhabi.

''We are looking for land in Abu Dhabi, and plan to start production within one year. The plant will have a capacity of 240 cubic metres per hour,'' Emirates Today quoted KV Rangaswami, head of construction division and member of the L&T board, as saying.

There is a huge demand for ready-mix concrete (RMC) in the West Asia due to the construction boom, he said adding that half of the product from the plant would be used in its own projects.

Rangaswami said the Jebel Ali plant, which is currently running at 60 per cent capacity, would scale up to 80 to 85 per cent in the coming year.

''We also have plans to set up a ready-mix concrete plant in Ras Al Khaimah. But that might take up to two years,'' Rangaswami added.

The company expects a turnover of 1.67 billion dirham from the West Asia in 2007, he said.

UNI