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Corporate Announcements

*Scrip Code*:500510 *Company Name*:LARSEN & TOUBRO LTD.
<http://www.bseindia.com/price_finder/stockreach.asp?scripcd=500510>

March, 19 2008

*News Subject:*

L&T to Add 4000 mw per Annum Capacity for Super-critical Boilers, Steam
Turbine Generators

*News Body:*

Larsen & Toubro Ltd (L&T) has announced that the Company is all set to
ramp up its manufacturing capacity of super-critical boilers and
super-critical turbine generators to 4000 mw per annum. The foundation
stone for the upgraded facility was laid at Hazira on March 19, 2008 in
presence of Mr. A M Naik, Chairman and Managing Director, L&T, and Mr.
Ichiro Fukue, Representative Director, Mitsubishi Heavy Industries Ltd.

L&T is the only private sector Company in India to enter the space of
super-critical boilers and steam turbine generators. The Company will be
manufacturing and marketing these critical components of the large power
plant through two separate joint ventures with Mitsubishi Heavy
Industries (MHI) of Japan. MHI is a global leader in this business.

L&T holds 51 per cent in both the JVs with MHI holding 49 per cent. The
JVs will have an investment of Rs 1500 crore.

The JVs had already started their operations in existing facilities at
Hazira last year and have already constructed two new workshops. To
further add capacities by 4000 mw, the new dedicated facilities coming
up at Hazira marks a significant milestone in India's power sector.

Super-critical boilers and turbines are integral components of energy
efficient, coal-based power plants. They will help meet the demand
supply gap for power plant equipment as India ramps up its power
generation capacity using the super-critical technology.

Manufacturing capability of these products integrates into L&T's
existing strengths in the power sector. L&T is currently engaged in
total EPC contracts for power projects as well as manufacture of
complete condensing and feed heating systems and 'balance or plant' for
power projects. With L&T also declaring its intent to enter the
generation space as a developer of power projects, the Company has
developed capabilities for becoming a single point solution provider for
the power sector.

L&T -MHI will have a product configuration catering to super-critical
power plants, ranging between 500 mw-1000 mw. The engineering design
centre for the boilers is based in Faridabad, near New Delhi, and that
for steam turbines in Vadodara, Gujarat. The new fabrication and
manufacturing facilities will be extension of present complex and will
be state of the art world class set up.

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