New L

Monday, July 9, 2007, 16:11 [IST]

New Delhi, July 9: Infrastructure major L&T today said it is moving out its manufacturing set up from metros and plan to set up new units in lower cost location.

''We are planning to move out from metros and going to set up the new units in lower cost locations. The basic aim for the restructuring is for unlocking value,'' an L&T official told a news channel.

The restructuring will form 12 vertical within the company, he added.

The company will be investing seed capital of Rs 5 crore for infra fund while the strategy to invest in the power sector is on a long term basis.

Road shows with 15-20 companies is going a head, the official said.

The official added, the other import in IT companies will offset rupee appreciation.

The company has three ship building facilities in Chennai, Gujarat and Andhra Pradesh.

UNI

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