"The Hydrocarbon Business (L&T Energy Hydrocarbon - LTEH) of Larsen & Toubro (L&T) has secured a Letter of Intent for yet another Ultra-Mega Onshore project from a prestigious client in the Middle East for a Gas Compression plant," the company said in a statement.
L&T has approved an investment of Rs 830 crore to set up a wholly-owned subsidiary that will be engaged in the business of fabless semiconductor chip design and product ownership and not manufacturing, said L&T chief financial officer, R Shankar Raman.
"The future is closer than you think. There are basic and massive changes occurring in the ecosystem, energy change, sustainability as a way of life and digitalisation is impacting every aspect of business. We must be future ready," said S N Subrahmanyan, in his letter to the employees after taking charge of L&T on October 1.