A.M. Naik, Chairman & Managing Director of India’s largest engineering power station Larsen & Toubro is not satisfied with hefty orders coming in from the infrastructure and energy segments.

Now, Mr. Naik aspires to build up a big earning stream for the company (L&T) that will foray into SEZ (special economic zone) development for the first time.

First of all, the company is gearing up an SEZ in Baroda for IT capable engineering and information technology services. L&T will also establish a sector-specific SEZ in the South where it is projecting to establish a ship constructing plant.

The infrastructure story is gathering momentum and Mr. Naik acknowledges that L&T will need huge funds to develop on a faster rate. That’s why L&T took commendation from its stockholders to bring up as much as $700 million or about Rs 3,000 crore.

Though the company may not find it hard to raise the money but the subprime predicament could swell the cost a bit.

However L&T acknowledges that given its big plans of foraying into shipbuilding, boilers and turbines, it cannot hold up its program to raise funds. And the infrastructure thrust will ensure that the investments bring back good returns.