News: L&T, Mitsubishi Heavy in boiler-making JV

(BL 17/04/2007) Mumbai - Larsen & Toubro Ltd said on Tuesday that it had entered a joint venture with Japan's Mitsubishi Heavy Industries to manufacture super-critical boilers in India.

The venture, which follows a technology agreement between the two companies, will have a capital outlay of about Rs 300 crore ($72 million), L&T said in a statement. The facility will cater to plant capacities ranging between 500 MW to 1000 MW and start production in the latter part of the fiscal year to 2009, L&T said.