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.