Larsen & Toubro has exited the project to develop a port at Kachchigarh in the state of Gujarat citing environmental concerns, the company informed the bourses.
The engineering major had bagged the project to build-own-operate-transfer the port in Gujarat in 2008 and subsequently its infrastructure development arm L&T IDPL had set up a special purpose vehicle named L&T Port Sutrapada Private to execute the project. While the Gujarat Maritime Board awarded the project after competitive bidding, it could not allot the land required for the project for two years. Subsequently, the location was changed to Kachchigarh and the name of the SPC was changed to L&T Port Kachchigarh.
L&T exits Kachchigarh port on environmental concerns
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