Monday, 17 November 2008

L&T to add 10,000 jobs in next 3 years

Infrastructure major Larsen & Toubro on Sunday said it will be adding 10,000 new jobs in the next three years across its different
business verticals.

"Over the next three years we expect to add about 10,000 new jobs in different businesses we are in," L&T Chairman and Managing Director A M Naik told reporters here on the sidelines of World Economic Forum's India edition.

He said 7,000 jobs would be added in Gujarat through three joint ventures that the company has entered into.

"Half a dozen plants are being set up in Gujarat which would include boilers, forgings and castings. Out of the three JVs, two are with Japanese companies and one with the Central Government," Naik added.

He said the plants in Gujarat are expected to come up in the next one-and-a-half to two years. "Besides, our new plants are coming up in Coimbatore and Chennai also," Naik added.

Asked if the current slowdown has impacted the company and led to deferment of projects he said, "Not as such, but some of our clients have slowed down."

He said liquidity continues to be a problem for everyone but L&T's highest rating 'AAA' is helping the company to get funding.

"We maintain our projected target of 30-35 per cent growth in book order for the fiscal," Naik added.

Source: EconomicTimes

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