L&T buys out partner's stake in engineering consultancy

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L&T buys out partner's stake in engineering consultancy

Indian construction and infrastructure company Larsen and Toubro Ltd (L&T) has taken full control of its consultancy joint venture L&T-Ramboll Consulting Engineers Ltd (LTR) by acquiring the 50% stake held by Ramboll Denmark AS.

The transaction value was not disclosed.

L&T reported in a statement:

L&T, in a strategic move to strengthen its design base in the infrastructure space, has acquired 50% 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.

Post-acquisition, LTR will be renamed as L&T Infrastructure Engineering Ltd and will operate as a wholly owned subsidiary of L&T.

LTR is a leading multi-disciplinary Indian consultancy firm formed in 1998. L&T contributed 50% of the authorized and paid-up capital, Ramboll contributed 26% and Industrialization Fund for Developing Countries contributed  24%. In 2004, Ramboll acquired IFU's 24% stake.

LTR provides consulting services in the following infrastructure sectors: Ports & Marine Projects, Bridges, Roads, Airports, Railways, Environment, Urban & Transport Planning, and Advisory Services.

The range of services include: Field Studies and Data Collection, Mathematical Modelling, Geotechnical Studies, Feasibility Studies, Master Plan, Project Report, Environmental and Social Assessment Studies, Risk Assessment Studies, Privatisation Studies / Advisory Services, Detailed Engineering and Contracts, Project Management, and Supervision and Quality Control.

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