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L&T to build data centre at Kanchipuram, signs MoU with Tamil Nadu govt; stock trades flat

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Engineering and construction major L&T signs a memorandum of understanding with the Tamil Nadu government to establish a data center at Kanchipuram. L&T shares were trading flat at Rs 1,881.70 on NSE at 1.10 pm

L&T to build data centre at Kanchipuram, signs MoU with Tamil Nadu govt; stock trades flat
Engineering and construction major Larsen & Toubro Ltd (L&T) has signed a memorandum of understanding with the Tamil Nadu government to establish a data center at Kanchipuram. The company will establish 90 MW capacity data centres in the next five years. The company plans to employ 1100 people in the project.
The state government will provide uninterrupted power supply and other infrastructure support to L&T.
The MoU was signed by Sudhir L Mahajan, Vice President and Head Data Center Business, L&T and Pooja Kulkarni, IAS, MD and CEO, Guidance, in the presence of Chief Minister MK Stalin and other officials from L&T.
SN Subrahmanyan, CEO and MD at L&T, said, "Tamil Nadu is on a growth trajectory, and we are delighted to partner with the Government of Tamil Nadu to propel this growth by building a data center that will further trigger development by attracting investments and generating jobs for the people of Kanchipuram."
These data centres will provide comprehensive solutions and end-to-end data centre services, with multi-cloud managed and cyber security services, digital transformation integration services and application integration services.
L&T had posted a 45.9 percent increase in its consolidated net profit to Rs 2,134 crore for the second quarter ended September 30, 2021.
L&T share price traded flat at Rs 1,881.70 on NSE at 1.10 pm. The stock opened at Rs 1,894 on Wednesday.
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