L&T to bid for coast guard contracts worth Rs 4,000 crore

Larsen & Toubro Ltd has bid for four Indian coast guard contracts worth Rs 4,000 crore, 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 hopes to emerge, in consortium, as the preferred bidder for a contract to make army vehicles.

Copyright: Thomson Reuters 2013