Larsen & Toubro Ltd., is eyeing Tamil Nadu, Maharashtra and Gujarat for its ₹500 crore missile and missile systems plant, said a senior executive.
“We are looking at Tamil Nadu, Maharashtra, and even Gujarat,” said Jayant D. Patil, member of the board and whole time director (Defence Business). The location would be finalized based on the incentives offered by these state governments, he added.
The missile and missile systems plant is being formed in a joint venture with MBDA, a French company. The new joint venture company, L&T MBDA Missile Systems Ltd., will have an equity stake of 51:49.
Besides, L&T, in partnership with South Korean firm Hanwha, would be setting up a battle tank plant at Hazira in Gujarat. This will cost more than ₹500 crore. The project is going ahead as per schedule, Mr. Patil said.
Wind tunnel facility
On the construction of a ₹250-crore wind tunnel facility for DRDO, he said: “Earlier, we had constructed a wind tunnel for ISRO and this is a repeat order. We have done half of it. The remaining portion will be completed in about 18 months.”
According to Mr. Patil, L&T has an order book of ₹2,300 crore to ₹2,400 crore, including an export order of $100 million from Vietnam, for delivery of high-speed interceptor boats.