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Mumbai, June 11 (UNI) Construction major, Larsen and Toubro (L&T) Group is planning to launch an offshore fund to invest in infrastructural projects in emerging markets mainly in India.

Talking to the mediapersons, on the sidelines of launching a new brand identity for L&T Infotech, Chairman and Managing Director, A M Naik of the company said '' It's an integrated approach towards infrastructure where we will invest in select infrastructural projects in emerging markets.'' The fund will have an initial corpus of US $ 500 million, which will be increased to US $ 1 billion in a period of one year.

The fund will be a part of the group's financial division.

While on the proposed IPO launch of the company, Mr Naik said that it would take another twelve months as before that we want to develop our delivery cycle and want to have an excellent technology before listing.

UNI