Toshiba in talks to enter India's power plant business |
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Published
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Tue, 06 Mar 2007 04:51
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TOKYO (XFN-ASIA) - Toshiba Corp said it was in talks with India's Larsen and Toubro Ltd to jointly produce and sellequipment for coal-fired power plants there.'We are in negotiations with L and T to form a joint venture to launch coal-fired power plant businesses in India,' said Toshiba spokeswoman Hiroko Mochida.'If concluded, it will be our company's first step to begin such businesses in the country,' Mochida said, adding that further details of the project are still under negotiations.The Nikkei business daily said Larsen and Toubro would likely take a majority stake in the joint venture, which will spend some 20 bln yen to build plants for steam turbines and power generators.The new venture is aiming for annual sales of 20 bln yen in five years, the newspaper said.Toshiba last year acquired US nuclear power plant maker Westinghouse for 5.4 bln usd in one of the biggest Japanese acquisitions overseas in years.afp/mas
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Toshiba acquires Westinghouse Electric 