Larsen & Toubro is
planning to set up a mega shipyard, its second, at an estimated investment of Rs.1,000 crore.
The company is looking for a suitable
waterfront with 12m draught for the project. Work on second shipyard is
scheduled for completion by 2009. The company is also planning to set up
three modular fabrication yard, including one in the Gulf.
L&T owns a shipyard at Hazira near
Surat for construction of high-technology vessels of up to 150m length and
displacement of 20,000 tonne. The Hazira shipyard will focus on construction of
commercial vessels and warships for the Navy as well as the Coast Guard.
L&T recently made a foray in the
dredging business by acquiring majority stake in International Seaport Dredging
Pvt Ltd, promoted by Belgian dredging multinational, Dredging International NV.