Japanese conglomerate Toshiba Corp said it is talking to Larsen and Toubro (L&T) Ltd to start a joint-venture to make equipment specifically for and create new coal-fired power generation plants. While details of the proposed venture is unclear, reports from Japan say that L&T will take the major stake Toshiba will spend USD 173 million to build the plants for steam turbines and power generators. The new venture is expected to generate revenue of about USD 85 million a year.

If the deal goes through, this will be Toshiba's first venture in India.