L&T Says Government Should Step In To Spur Private Sector Investments
L&T’s SN Roy seeks coal cess worth Rs 85,000 crore for power plants.
India’s largest infrastructure firm Larsen & Toubro Ltd. said the government should step in to spur private sector investment in India.
“There are two projects in Madhya Pradesh on the anvil and how they will be funded is a big call which the government has to take,” SN Roy, senior executive vice president (power, heavy engineering and nuclear division) at L&T, told BloombergQuint in an interview.
Roy also sought about Rs 85,000-crore coal cess from the central government as subsidy for power plants. “This could be returned once new power plants become operational.”
The ‘Mega’ Bihar Project
L&T said ultra-supercritical technology will be used to set up a power plant in Bihar. “It’s a technology where coal consumption is minimum and is a non-polluting power plant,” Roy said, adding the first unit would be completed in 48 months and the second would take another six months.
L&T won a “mega” order to set up two units of 660 megawatt each in Bihar, according its exchange filing on Tuesday. It classifies projects worth more than Rs 7,000 crore as mega orders.