L&T bidding for defence orders worth up to $1.4bn

L&T bidding for defence orders worth up to $1.4bnLarsen & Toubro Ltd (L&T) is vying for defence orders worth up to Rs 80 billion ($1.4 billion) that the government will award in the coming few months, a senior executive of the engineering group revealed.

M. V. Kotwal, president of heavy engineering department at L&T, announced on Monday that the company had placed bids for four contracts worth nearly Rs 40 billion with the Indian Coast Guard to supply training ships & support vehicles.

Kotwal also revealed that the company was planning to place bids for two landing platform docks. The contracts for these docks, each of which worths Rs 10 billion to Rs 20 billion, will be awarded by the Indian government in the next six months.

The government has plans to offer contracts for four multipurpose landing platform docks, and two of these contracts will be given to private-sector engineering firms.

Speaking on the topic, Kotwal added, "In the next two years, we can see a clear swing in defence orders given to Indian companies."

India's defence sector has so far remained largely dominated by government-owned companies and foreign firms. In a bid to boost the growth of Indian defence firms, the government has thus rolled out a new procurement program thar gives preference to domestic firms.

L&T, India's largest engineering & construction firm, has already bagged a contract worth Rs 16 billion to supply 54 speed boats to coast guard.