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| Jaypee Group, L&T ink Rs 4,000-cr deal |
| Press Trust of India / New Delhi Aug 12, 2009, 21:24 IST |
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Jaypee Group-promoted Jaiprakaskh Power Venture (JPVL) and Larsen & Toubro (L&T) today signed Rs 4,000-crore agreement under which the engineering major will supply boiler and steam turbine generator to a thermal power project in Nigrie, Madhya Pradesh.
L&T will supply super critical units for the 2x660 Mw thermal power project of JPVL. Unit I of boiler, turbines and generator package is expected to be commissioned in 45 months, while unit II is expected to commissioned in 51 months.
"This agreement is dedicated towards power generation for our country with a much efficient technology," Jaypee Group Chairman Jaiprakash Gaur told reporters here.
"We have expanded the scope of our capabilities in the power sector to offer our customers world class plants," L&T Chairman and Managing Director A M Naik said.
Naik also said that no decision has been taken on sale of L&T's stake in Mahindra Satyam (erstwhile Satyam Computer).
"We had sought Sebi's nod for selling our stake in Satyam. We have not heard from them. There is a lock-in period (for selling Satyam shares) of 6 months, 4 months have gone, 2 months are remaining. We have not yet decided to Sell."
L&T had a 12 per cent stake in Satyam, which fell to 6.9 per cent after the IT company alloted fresh preferential shares to its new owner Tech Mahindra.
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