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L&T to set up greenfield plant in Oman for $ 50 mn
New
Delhi,
Dec
15:
Larsen&Toubro
Heavy
Engineering
LLC
(L&T
HE)
has
signed
a
SUA
(Sub-Usufruct
Agreement)
with
Sohar
Industrial
Port
Company
(SIPC)
to
establish
a
green-field
plant
in
Sohar,
Oman
for
the
manufacture
of
high-tech
equipment
for
the
Process
Industry
with
an
estimated
investment
of
50
million
dollars.
''The SUA, signed yesterday, is to establish a green-field plant in Sohar, Oman for the manufacture of high-tech equipment for the Process Industry,'' a company statement said. It is anticipated that the project will be established with an initial investment of approximately 50 million dollars in Phase I. L&T HE is a joint venture between country's largest integrated engineering and construction company, L&T and Oman-based Zubair Corporation.
''This facility will be a pioneering venture in the GCC region and will have the capability to manufacture critical equipment for refineries, petrochemicals and fertilizer projects, and other process industries,'' the statement added.
UNI
