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L&T acquires TIDCO's stake in L&T Shipbuilding

Friday, 12 Apr 2019
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Larsen & Toubro (L&T) has purchased Tamil Nadu Industrial Development Corporation’s (TIDCO) three percent stake in its subsidiary L&T Shipbuilding for Rs 32.74 crore. This makes L&T Shipbuilding a wholly-owned subsidiary of Larsen & Toubro.

L&T Shipbuilding was incorporated on 13 November 2007, and currently operates a modern shipyard from Kattupalli, Chennai in Tamil Nadu carrying out shipbuilding and ship-related activities.

The company undertakes manufacture and building of warships, auxiliary vessels/crafts and specialised commercial ships. In addition, Kattupalli shipyard also undertakes repairs and refits of both defence and commercial ships.

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