Larsen & Toubro has acquired a majority stake in International Seaport Dredging Pvt Ltd (India-based company) for dredging business.

L&T acquired 61 per cent stake in the company from Dredging International NV, Belgium which holds the remaining 39 per cent stake. L&T's entry into the dredging business is also in synergy with its ports construction business, where the company is a major construction partner in several Indian public and private ports.

The current dredging capacity in India is unable to meet the demands of ports and harbours, which have to contract for dredging with foreign flag vessels. Hiring foreign flag vessels involves mobilisation and demobilisation costs.

Currently, L&T itself is involved in the construction of major ports at Nhava Sheva, Dhamra, Chennai, Mundra, Gangavaram, Hazira, and other places. Initially, the company's dredging operations will concentrate on India and neighboring countries and later on, it will seek international opportunities.