L&T Acquires 50% Stake in L&T-Ramboll Consulting Engineers

Construction and engineering major Larsen & Toubro (L&T) today said it has acquired Denmark-based Ramboll's 50 per cent stake in L&T-Ramboll Consulting Engineers to strengthen its design base in the infrastructure space.

"L&T, in a strategic move to strengthen its design base in the infrastructure space, has acquired 50 per cent of the stake in L&T-Ramboll Consulting Engineers Limited (LTR) hitherto held by Ramboll Denmark AS. With this acquisition, LTR now becomes a wholly-owned subsidiary of L&T," L&T said in a statement.

Post-acquisition, the company is proposed to be renamed L&T Infrastructure Engineering.

LTR was incorporated in 1998 with L&T contributing 50 per cent of the authorised and paid-up capital.

Ramboll Denmark AS and Industrialisation Fund for Developing Countries (IFU) contributed 26 per cent and 24 per cent, respectively.

Ramboll Denmark AS had later purchased IFU's 24 per cent stake in 2004.

LTR has approximately 250 engineers on board, with registered office in Chennai, and regional offices in Hyderabad, Delhi and Mumbai.

The company will continue to offer single point concept to commissioning consultancy services for infrastructure projects like airports, roads, bridges, ports and maritime structure including environment, transport planning and other related services, the statement said.

"This acquisition is a significant move to strengthen our EPC offering in the infrastructure sector. With a track of successful projects and international exposure, L&T Infrastructure Engineering will be providing engineering services for infrastructure projects," L&T Member of the Board and Senior Executive Vice President (Infrastructure and Construction) S N Subrahmanyan said.