February 7, 2017

L&T’s AM Naik Sees ‘Bloodshed’ In Coal-Based Power Sector

Moderate industrial growth and a slow uptick in demand means Larsen & Toubro Ltd.’s power business is not going to improve over the next five years, says executive chairman AM Naik.

“It is essentially a dismal picture from the growth perspective,” Naik told BloombergQuint’s Menaka Doshi.

Naik acknowledges no new power plants have come up in recent years. Power has become surplus in many places because a lot of people don’t have the ability to pay, says Naik. “Second, the industrial growth which should have been much faster than this, is somewhat moderate and that’s why power consumption hasn’t gone up yet.”

Read more at http://www.bloombergquint.com/business/2017/02/06/landts-am-naik-says-power-sector-unlikely-to-grow-for-five-years

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