L&T to invest Rs2,000 crore in greenfield shipbuilding venture
06 Jul 2007
Mumbai:
Infrastructure and engineering company Larson and Turbo (L&T) will invest
between Rs1,500 crore and Rs2,000 crore in a new greenfield shipbuilding venture.
The company is looking at the coastline of Tamil Nadu, Andhra Pradesh and Gujarat for setting up the shipbuilding unit.
L&T has a shipbuilding yard at Hazira in Gujarat. The company is scouting around for a different location, as there is little scope for expansion of the Hazira unit. It requires about 1,000 acres along the coastline with adequate depth close to the shore.
L&T recently bagged a Rs440-crore order from Rotterdam-based Zadeko Ship Management CV to build four ships.
Zadeko caters to special purpose cargo movement.
L&T also has plans to build ships for the Navy and Coast Guard.
The new shipbuilding unit will have capability to make all types of vessels, including high-tech ones such as CNG, LNG carriers and containers of up to 3 lakh deadweight tonnes (DWT).
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