Mumbai: Engineering and construction major Larsen & Toubro has set a goal of achieving 25% revenue from international business over the next few years from the present 16% in FY’08, a top company official said.
The company’s focus areas would constitute the Middle-East and China in view of the booming infrastructure market there.
“We have placed a greater emphasis on accelerated growth in the Gulf Cooperative Council (GCC) countries. To address the booming infrastructure market, we have formed joint ventures and set up execution centres in various GCC countries,” L&T Chairman and Managing Director A M Naik said in his note to shareholders in the company’s annual report here.
The company has established a state-of-the-art fabrication facility for the manufacture of modular structures, heavy jackets and off-shore oil and gas platforms at Sohar in Oman.
This facility will provide L&T with significant logistic advantages in meeting the needs of the many upstream oil and gas projects that are expected to come up in the Gulf.
“We have set-up design engineering centres at Sharjah and Abu Dhabi for providing design and engineering consultancy services in the oil and gas and infrastructure sectors,” he said.
L&T group’s sales stood at Rs29,561 crore in FY’08 and new order inflow at Rs42,019 crore.