LARSEN & TOUBRO: Indian Railways has awarded engineering and construction company Larsen & Toubro a Rs10·5bn turnkey contract to build and commission a cast steel wheel plant in the Saran district of Bihar.

The plant is scheduled to be completed within two years, and will have a capacity of 100 000 wheels per annum. It is being built to meet a shortage of wheels caused by growth in passenger and freight traffic, and also to reduce the need for imports; the Indian firm is not working with a foreign partner on the project.

L&T launched a dedicated Railway Business Unit in 2007, targeting opportunities linked to projects including freight corridors, station modernisation and urban transport.

The company is also looking at participating in various upcoming PPP projects in rolling stock manufacturing and station redevelopment works.