L&T to invest Rs 20 bn in a new shipbuilding venture
Larson and Turbo (L&T) will invest up to Rs 20 billion in a new greenfield shipbuilding venture, reports Business Line.
The company is considering sites at the coastline of Tamil Nadu, Andhra Pradesh and Gujarat for erecting the shipbuilding unit,.
L&T, the infrastructure and engineering conglomerate, has a shipbuilding yard at Hazira, in Gujarat, but due to the little scope for expansion, the company is looking for other locations. It requires about 1,000 acres along the coastline.
Recently, the company received a Rs 4.40 billion order from Rotterdam-based Zadeko Ship Management CV to construct four ships.
At present, India is having 28 shipbuilding yards and the largest ship built in the country is a 45,000 DWT vessel at the Kochi Shipyard.
Shares of the company closed up Rs 39.70, or 1.73%, at Rs 2,331.15. The total volume of shares traded was 326,725 at the BSE (Thursday).
The company is considering sites at the coastline of Tamil Nadu, Andhra Pradesh and Gujarat for erecting the shipbuilding unit,.
L&T, the infrastructure and engineering conglomerate, has a shipbuilding yard at Hazira, in Gujarat, but due to the little scope for expansion, the company is looking for other locations. It requires about 1,000 acres along the coastline.
Recently, the company received a Rs 4.40 billion order from Rotterdam-based Zadeko Ship Management CV to construct four ships.
At present, India is having 28 shipbuilding yards and the largest ship built in the country is a 45,000 DWT vessel at the Kochi Shipyard.
Shares of the company closed up Rs 39.70, or 1.73%, at Rs 2,331.15. The total volume of shares traded was 326,725 at the BSE (Thursday).