L&T's projects in refineries showing signs of slowdown

Heavy engineering major Larsen and Toubro (L&T) today said some projects in refineries, petrochemicals and fertilisers are showing signs of slowdown and they can get delayed because of financing reasons.

"There are some projects in refineries, petrochemicals and fertilisers, which are showing signs of a slowdown," said M V Kotwal, L&T's board member.

Whether new exploration projects would get the nod or otherwise would depend on financing, he said.

"It might affect some upstream projects and some of the projects could get delayed because of financing reasons," he said.

However, L&T would emerge unscathed because it was not dependent on one sector but instead, catered to the global market, Kotwal said.

 

"We are manufacturing core equipment such as ammonia converters, fertiliser and urea strippers. There is a huge requirement (for these) in the global market," he said.

"Since we are not focused only on India but across the world, we find we have opportunities even now," he added.

In heavy engineering, the company is focussing on high-end technology to give it the edge in the marketplace because of less competition.

"When you come to areas where there is a higher level of technology, designing and innovation, we definitely have an edge. That also gives us the benefit of competing with a restricted number of people worldwide," he said.