The construction work on Larsen &
Toubro's integrated shipybuilding yard and port at Ennore in North Chennai is
likely to begin soon. Currently, the company is in the process of earmarking
the 1,200 acres of land for the project.
The project's cost has been estimated at
Rs.3,060 crore with the equity component being put at Rs.1,100 crore. Tamil Nadu
Industrial Development Corporation is likely to hold a 3 per cent equity stake
in the venture.
L&T plans to build large-sized
ships, including very large crude carriers (250,000 tpa and more) at the
shipbuilding yard and is expected that it will also make vessels for defence
purposes.
The project is scheduled for completion
within 24 months from the date of commencement.
Also See:
Tamil Nadu Cabinet
approves shipyard project (11-Jan-08)