 "L&T to bid for coast guard contracts worth $695 mn")
Larsen & Toubro Ltd (L&T) will bid for four Indian coast guard contracts worth 40 billion rupees, M. V. Kotwal, president of the company's heavy engineering department said on Monday.
L&T also plans to bid for two landing platform docks that will be awarded by the Indian government, Kotwal told reporters.
To foster the growth of Indian defence companies, the government has rolled out a new procurement programme seen as favouring domestic firms and is also looking to partially remove restrictions on foreign companies investing in Indian ones.
L&T, India's largest engineering and construction company, has tried to expand its defence manufacturing business and recently emerged, in consortium, as the lowest bidder for a contract to make army vehicles.