L&T Group Chief Financial Officer R Shankar Raman said Chinese
firms, which it had contracted, are providing critical equipment for some of
the projects and helping in implementing and operating them.
Engineering major Larsen
& Toubro (L&T) on Wednesday said it will be "conscious"
of government's directives while getting into future partnerships with Chinese
firms for fresh orders, even as it would continue with the existing tie-ups for
contracts as most of them are for critical projects.
"...it's
something that we need to work through because as you know the orders from
supply from China are contractual orders and we cannot, based on political
stance, immediately turn turtle. So we have to make sure that all the
obligations are understood in whatever contracts we have signed," L&T
Group Chief Financial Officer R Shankar Raman said during a media call.
Amid rising
tensions between India
and China following violent clashes at the border, the government had
banned 59 Chinese mobile apps.
Some of the major
establishments such as Indian Railways decided to cancel a contract awarded to
a Chinese firm, while MMRDA scrapped the tender process which had attracted
bids from only Chinese firms.
Raman said that
Chinese firms, which it had contracted, are providing critical equipment for
some of the projects and helping in implementing and operating them.
"So we are
not trying to turn them off and send them away. They are much part of the
deals, but fresh deals we will be very conscious of what the government is
saying...at the same time we have to develop an alternate ecosystem and it is
not going to be an on-off kind of situation where you find a next equally
compelling vendor or supplier available," he added.
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