Mumbai: Larsen & Turbo and the Tamil Nadu Government have signed an agreement to set up a Rs30bn integrated ship building and port facility to the north of Chennai, reports the Hindu Business Line. The shipyard, to be located in Thiruvallur district near Ennore, will be L&T's second shipyard following its current facility at Hazira in Gujarat.
The new yard, which is slated for completion in about two years, will be spread over about 1,200 acres and boast VLCC, passenger ships and energy vessel construction capabilities and will also be used for shiprepair and refurbishment.
L&T, which will also build defence ships including submarines at the yard, claims to be the only private sector company licensed to manufacture vessels for the defence sector.
The project is expected to generate over 5,000 direct jobs. The government hopes that the project will spur additional investments in heavy engineering, components and support industries. [16/04/08]
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
