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.