L&T and the Indian Institute of Technology (IITB) Bombay have signed a three-year Memorandum of Understanding (MoU) for technical collaboration in the areas of information technology, technology management, chemical engineering, CAD-CAM, high-end engineering services, industrial design, communications and embedded systems, mobile communications and IP network.

The signing of this MoU is aimed at strengthening the existing interaction between L&T and IITB in mutually beneficial areas. The collaboration would be through one or more of the following modes :

• Sponsoring L&T's Build India M.Tech scholarship programme at IIT Bombay.
• Sponsoring student projects/fellowships in the two year M.Tech and five year dual degree programmes at IIT Bombay.
• Sponsoring eligible employees of L&T for M.Tech/Ph.D. degrees at IIT Bombay.
• Sponsoring R&D projects either at IITB or L&T.
• Training of L&T personnel through Continuing Education Programmes conducted by IIT Bombay in areas of interest to L&T.

L&T will also be using IIT Bombay's assistance in the preparation of testing materials and assessment center tools for L&T's technological leadership programme initiative.

Speaking at the signing of the MoU, Mr. K. Venkataramanan, President (Operations), L&T said, "We are delighted to collaborate with India's leading technology institute and are confident that both L&T and IITB will profit from the strengthened interaction between the two."

According to Prof. Ashok Misra, Director, IIT Bombay, "We have been very impressed with L&T's technology initiatives as well as the integration of technology in L&T's business processes. This new collaboration will go a long way in furthering increased co-operation between IITB and L&T."