L&T plans to sell stake in Hyderabad Metro and Dhamra Port project

25 Sep 2013

In a bid to fund its new projects, Larsen & Toubro (L&T), India’s largest construction and engineering major is planning to offload slew of assets to raise close to Rs 8,200 crore by this fiscal-end.

The company will garner nearly Rs 4,200 crore from selling of 26% stake in the Hyderabad Metro project and 50% stake in Dhamra Port project, while the company is looking at listing one of its infrastructure company L&T IDPL in the Singapore stock exchange via the trust route to raise another Rs 4,000 crore. 

Of the sale proceeds, L&T will deploy Rs 6,200 crore in the existing projects and will commit another Rs 2,000 crore for the new projects over the next five years.

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