India’s major Engineering and construction company, Larsen and Toubro (L&T), has made announcement that it has pocketed a contract worth Rs1,557 crore from Andhra Pradesh Power Development Company Ltd (APPDCL) for supplying two 800 megawatt steam turbine generator packages to Sri Damodaram Sanjeevaiah Thermal Power Station at Krishnapatnam in Andhra Pradesh.

Based on super-critical technology, the proposed contract is country’s first contract which will be developed by a joint venture company named L&T-MHI Turbine Generator, set up by L&T and Mitsubishi Heavy Industries (MHI), Japan.

With this order L&T also forayed into the area of thermal power, employing supercritical technology.

In order to diversify its business footprints, L&T-MHI are now focusing on setting up a manufacturing facility at Hazira in Gujarat.

Further, the two firms have formed another joint venture to manufacture super-critical boilers in their efforts to strengthen their footprints in the coal-based thermal power sector.

Indicating its future roadmap, board member at L&T stated,"Both the JVs would be the pillars on which L&T's power business will be built in the years ahead."

The Shares of Larsen and Toubro closed at Rs 2,184, low Rs 81.10 on National Stock Exchange. The total volume of shares traded was 120,298 at the Bombay Stock Exchange.