L&T to capitalise on SA power transmission biz

Mumbai, Sep 23: India's leading engineering and contruction giant, Larsen & Toubro (L&T) has joined hands with a South African company, Befula Investments to capitalize on the Power Transmission and Distribution opportunities in South Africa.

The companies have signed a Share Holders Agreement to incorporate a Joint venture company 'Larsen & Toubro T&D SA (PTY) Ltd".

South Africa is a great marked for power as the country, which has an installed capacity close to 44000 MW, an installed capacity close to 44000 MW. The current peak demand shortage is approximately 3,000 MW and this is expected to grow 6 per cent every year.

Sizeable investments are lined up by the Government to cater to major generation capacity addition and augmentation of Transmission & Distribution Network in the next five years, L&T said in a statement elaborating on the business opportunity.

The Transmission Lines are expected to be in 400 / 765 kV class to service the major load centers and strengthen the National Grid for balancing of power and to minimize instances of shut downs, the press statement issued on Sep 23 added.

OneIndia News