Toshiba in talks with India's Larsen & Toubro about thermal power business

Toshiba Corp. said Tuesday it was in talks with Indian construction company Larsen & Toubro about setting up a company to provide turbines and power generators for thermal power plants.

The Tokyo-based company relies on digital goods, semiconductors, and large-scale infrastructure projects for the bulk of its profits. It has been expanding its power generation business globally, and last year completed its acquisition of reactor maker Westinghouse Electric Co. with two partners.

A Toshiba spokeswoman said the company needs a local presence in India to provide support and service in order to break into the thermal power market there, which is expanding as the country's population explodes.

"Without a service base, it is difficult for companies to enter into the Indian market, so we are in talks" with Larsen & Toubro, she said.

A spokesman for Larsen & Toubro confirmed the talks, but said the discussions are ongoing.

"We are in dialogue with Toshiba. Nothing is finalized yet," the spokesman said.

Vilasrao Deshmukh says Mumbai can still be World Class City...anyone to take that

How come we do not know that Mumbai requires good infrastructure. I had to be Mumbai last two years since the Shanghai dream has been talked about and do not see the change anywhere in Mumbai.

See what Mr. Vilasrao Deshmukh had to say about the development project. Obviously, 2009 is voting year for the incumbent Government in Maharashtra and the CM is doing his best to make sure that the development happens.

He said in an interview the following :

"We have to have infrastructure of international standards. When they (foreign investors) come here, they should feel that they are on par with other international cities," Deshmukh told PTI.

"For commercial transactions, industry, stock exchanges, port, airport and other parameters are already in place," he said. For the financial centre, the Centre has already appointed a committee, Deshmukh said. "I had a talk with the committee members. They have submitted a report to the Centre."

Mr. CM is saying that Bandra - Worli Sea Link would be over by 2008 and global tender would be floated for the second phase from Worli to Nariman Point in a month's time. Also there is possibility of looking into Japanese Assistance to finance the Infrastructure Projects in Mumbai.

To give a good advice, Mr. CM should first try to resolve the conflict between MMRDA, BMC and the State Government which would make things easier for infrastructure development and maintenance.

Center has also allocated Rs. 5000 crores for Railway and Infrastructure Projects.