L&T eyes Rs. 3,000-crore infra projects from Sri Lanka.

Larsen & Toubro expects to win Rs. 3,000-crore infrastructure projects from Sri Lanka, even as the engineering and construction conglomerate is gearing up for the initial public offering of its technology unit. "In Sri Lanka, we are looking at 2 or 3 projects and may be they will materialise (winning these projects) in the next 3-4 months and they may be worth about Rs. 3,000 crore," L&T Group Executive Chairman AM Naik told reporters on the sidelines of the company�s 70th AGM. "These are infrastructure projects," he added. "We are discussing these projects, and everywhere the issue is of resources, and once these resources are tied up we expect these projects may materialise and we have a good chance of winning it," Naik added. The company is also looking to sell a few more projects from its realty portfolio such as its projects in Chandigarh, Seawood (Navi Mumbai) and its port in Kattupalli, near Chennai. "These assets are meant to be churned," he added. Last year, Adani Ports & Special Economic Zone (APSEZ), part of Adani Group, acquired Dhamra Port - a 50:50 joint venture between Tata Steel and L&T Infrastructure Development Projects Company - for Rs. 5,500 crore. However, the company does not have any plans to sell off any of its operational road projects, he said, adding that of the total 17 projects, 6-7 were not so profitable.