Engineering and construction major Larsen & Toubro Ltd (L&T) today said it will invest around Rs 1,800 crore in the oil and gas and port sectors.
The company would invest around Rs 650 crore ($165 million) for building an installation vessel for the upstream sector, L&T president (operations) K Venkataramanan told reporters on the sidelines of Chemical Congress 2007 here.
L&T was keen to acquire technological strength in deep water exploration for which it was entering into collaboration with foreign companies, he said.
The company was upgrading its facility at Hazira.
Venkataramanan said L&T would also invest Rs 1,000 crore for constructing a shipyard and was also building a port at Sohar near Oman at an investment of around Rs 118 crore ($30 million).
Besides the energy sector, L&T was also engaged in the construction of greenfield airports at Hyderabad and Bangalore. -- PTI
