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Tuesday, May 4, 2010

L&T, UK's Howden in JV for power plant gear

Indian engineering and construction conglomerate Larsen & Toubro said on Tuesday it has formed a joint venture with the UK's Howden to manufacture components for Indian thermal power plants.

The joint venture will invest 1 billion rupees ($23 million) to set up an industrial facility at Hazira, in western India, Larsen said in a statement.

Howden is a unit of British tool and equipment maker Charter International.

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