L & T keen on shipbuilding

As part of diversification of business, engineering and construction company Larsen and Toubro Ltd (L&T) based in Mumbai is keen on entering into ship building business and developing minor ports.

“L&T is keen on foraying into ship building business and we are tying to find a suitable location for the yard. However, a business plan in this regard has not been finalised yet,” said L&T Chairman and Managing Director, Anil M Naik. He went on to say that there is no ideal location for setting up shipbuilding yard in India but the company is trying to identify an ideal location for shipbuilding.

“There are very few deep water ports in India. Unfortunately, the available deep water ports are not available for L&T,” Naik said. The company is also exploring the possibilities of developing minor ports in the country.