L&T plans new mega shipyard

India’s Larsen & Toubro (L&T) plans to set up a large shipyard at a cost of about $446 million to capitalise on expected demand for vessels as international trade grows.

L&T is looking at four or five locations in the coastal states of Tamil Nadu, Andhra Pradesh, Maharashtra and Gujarat and will decide the location by end of January. Industry sources say that India will need at least 2-3 large shipyards to meet its own requirements for new ships.

The company already builds ships at Hazira in Gujarat, but this facility can only handle smaller vessels.