JobberClub » L&T

Engineering giants to recruit more: CII Baroda

admin — Fri, 19 Feb 2010 04:10:07 +0000

VADODARA: Top honchos of the engineering giants from the state met during the Engineering Summit 2010 organised by the Confederation of Indian Industry (CII) on Thursday here to discuss the way ahead for engineering industries in the country. Issues like technology management practices, robotic applications in achieving engineering excellence, product development and innovation and others were discussed in the day-long summit at Gateway Hotel.

Representatives from several engineering biggies like Bombardier, L&T, Alstom, Areva, Siemens Ltd and Elecon aired their views during the summit in which CII-KPMG report on Resilience and Renewal of Engineering Sector was also released. The speakers held an optimistic view about the future of Indian engineering sector after it suffered setback during the recession.

The CII-KPMG report on Resilience and Renewal: Engineering Sector Looks Ahead highlighted critical lessons learnt by the engineering industry in the last few years, and how this learning has been factored in by them into their growth strategies. “We have to take opportunity of the recent global slowdown and work on reverse innovation system. Till date, products were invented and manufactured in western markets and then Indian manufacturers replicated those products to suit Indian markets. But, now Indian manufacturers should invent new products at low price that would be replicated in western markets,” Bombardier Transport India president and managing director Rajeev Jyoti said during the summit.

Madhav Digraskar, president, ABB Ltd talked about the growth prospective of engineering industries with focus on small and medium scale enterprises and the need to give them thrust by providing quality infrastructure. Other speakers at the summit included Dr Carstene-S Berendsen, Vice President, oil & gas division, Siemens Ltd, Atul Garg, chairman-CII central Gujarat zonal council, Suresh Nair, manufacturing head of Alstom India, Pranav Adani, chairman CII Gujarat and Gajendra Chandel, president Tata Autocomp Systems Ltd

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China systematically killing Indian manufacturing: L&T

admin — Tue, 12 Jan 2010 03:49:41 +0000

Private sector engineering major Larsen & Toubro has said that China is systematically killing Indian manufacturing sector and sought 25 per cent anti-dumping duty on Chinese goods.

“China has a fixed currency. It is not a market economy like ours. China is systematically killing the Indian manufacturing sector,” L&T chief Naik, who was here for foundation stone laying ceremony of a forgings unit at Hazira told reporters here yesterday.

“There are taxes on goods manufactured locally, but none on imported products (from China). This is an unfair situation for Indian goods. This is why there should be 25 per cent anti-dumping duty on Chinese products,” Naik said.

Speaking specifically about power equipment sector, in which L&T is a major player, Naik said, “The Indian power companies, especially those in the private sector, have placed huge orders for power plant equipment with China. We can say that Chinese power sector is virtually working for India.”

“It is not good that 80 per cent of our dependence for power plant equipment is on one country, and that too China,” he said, adding that China should not be allowed to grow at the cost of Indian companies.

“The day China opens its economy, its prices are bound to go up by 25 per cent,” he said. “But unfortunately we are not taking any steps to stop it,” Naik further said.

L&T’s special steel manufacturing and ultra heavy forgings unit at Hazira is a joint venture with Nuclear Power Corporation of India Ltd (NPCIL), in which L&T holds 74 per cent stake while the latter 26 per cent.

The plant is being set up at an investment of Rs 1,750 crore, and will supply finished forgings for nuclear reactors, pressurisers and steam generators, besides heavy forgings for critical equipment in the hydrocarbon sector, as well as thermal power plants and steel plants. The unit is expected to begin operations between March and May next year.

L&T is also investing over Rs 5,000 crore for setting up facilities to manufacture boilers, turbines, modular fabrications. It is also establishing a ship-building unit and a power plant at its Hazira facility.

“The boiler shop will be opened in March or April this year, which will be followed by the turbine shop in August or so,” Naik said.

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IT Companies lining up for MoUs in Vibrant Gujarat 2009

admin — Fri, 09 Jan 2009 16:35:58 +0000

HSMC, Videocon, L&T, Airtel, Vodafone & e-Infochips Will Sign MoUs Over Rs 20,000 Cr; It Is More Than Rs 15k-cr Investments During ’07 Summit

IT’s GETTING bigger by the year. The growth story of Gujarat’s IT/ITeS industry is finally going global. More than two-dozen players, including US-based semiconductor major HSMC, Videocon, L&T, Airtel, Vodafone, Simtel, and e-Infochips among others, will sign MoUs worth more than Rs 20,000 crore in the upcoming Vibrant Gujarat Global Investors’ Summit on January 12 &13 — a jump from the Rs 15,000-crore investment pledged during the 2007 summit.

Both the HSMC Group and Videocon intend to invest close to Rs 5,000 crore each to set up a hardware unit and a large LCD-making unit near Ahmedabad, respectively. US-based IT player Vora Group has plans to set up an IT/ITes SEZ at an expense of more than Rs 1,000. L&T, SGV Group and Hiranandani are planning to set up IT SEZs in the state and will make investments. While SGV and Hiranandani are expected to invest Rs 1,000 crore, L&T is expected to invest around Rs 500 crore. Those who have proposed IT SEZs have already approached foreign IT firms specialising in electronics manufacturing, BPO services and assembly units to set shops in Gujarat. Official sources also informed that Singtel and L&T have shown interest in investing Rs 500 crore each. State government sources have confirmed that major global and national players have pledged investments worth more than Rs 20,000 crore in IT/ITeS and related sector in the state. “It has got bigger from the Rs 15,000-crore investment MoUs signed in the 2007 Vibrant Gujarat Summit,” said a government official close to the development. IT biggies like Microsoft, Intel and Infinium will also sign MoU with the state government in the field of IT education. While Microsoft will sign MoU worth Rs 140 crore, Infinium will pledge an investment of Rs 190 crore. Cellular Operators Association of India will also enter into MoU with the state. Sources told ET that out of delegates from 37 countries who will participate at the summit, Singapore, Malaysia and Taiwan will send special IT delegates to explore investment possibil ities in the state. Further, US-based IT majors like E3M Inc and Nano Work Development will send representatives to explore investment opportunities in Gujarat. Telecom majors like Vodafone and Bharti Airtel will also sign MoUs. Vodafone will set up a global centre for payment systems in Gujarat with an investment of around Rs 100 crore, sources said. Software developer Patni is also keen to invest close to Rs 100 crore to put up an IT solutions unit near Ahmedabad. There are also several emerging players who will make small investments at the Vibrant Gujarat summit. US-headquartered Varaha Systems with a R&D unit in Ahmedabad has made plans to invest Rs 15 crore in setting up an IT solutions unit near Gandhinagar.

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Vadodara to become country’s largest engg hub: L&T

admin — Sat, 03 Jan 2009 16:32:53 +0000

Vadodara: Larsen & Toubro (L&T), which is setting up Knowledge City, wants to develop Vadodara as country’s largest engineering hub. While inaugurating an engineering campus at Waghodia on the outskirts of the city on Friday, L&T’s chairman and managing director AM Naik said that Vadodara will act as headquarters of three out of 18 operating companies of the group, including L&T Power, L&T Hydrocarbon and E-engineering.

“City will have 12,000 to 15,000 engineers by 2020 at a single location,” said Naik, adding that Knowledge City will act as headquarters of the three companies. L&T also wants to set up an engineering college for its employees for which it has already approached state government.
Naik said that former ABB India head Ravi Uppal has already been appointed as CEO and managing director of L&T Power, a 100 percent subsidiary of L&T. “In engineering services, we will create 10,000 new jobs over next four years, of which half will be in Gujarat,” he said, adding, “In hydrocarbon space, it will cater to needs of the upstream, midstream and downstream sectors and in power, design support for complete projects. We expect to generate project exports revenue of over Rs 2,000 crore within five years and generate employment to around 5,000 technical professionals in next five years,” he said. Integrated campus will enable L&T to extend and further develop its existing capabilities in process engineering, product development, mechanical design and analysis, process evaluation and technology adaptation.Apart from that, L&T is also setting up Institute of Project Management to develop project managers across domains of engineering, procurement, construction and manufacturing at ‘Knowledge City’. The campus that presently houses three buildings will see investment worth Rs 500 crore in infrastructure and buildings alone spread over a period of five years. L&T plans to have 11 buildings constructed across 112 acres in first phase which will also house convention centre, employees hostel, residential colony, food courts and entertainment facilities. “We have utilised only part of the capacity and it has potential for expansion ten times over,” said Naik, adding that in next five years, over 2,000 employees will live on the campus.

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