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L&T plans to invest about Rs 2,000 crore in shipbuilding

L&T plans to invest about Rs 2,000 crore in shipbuilding
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First Published: Sun, Dec 02 2007. 02 54 PM IST
Updated: Sun, Dec 02 2007. 02 54 PM IST
By PTI
L&T has been reported to have shortlisted a location in Tamil Nadu. Setting up a shipbuilding yard is capital intensive, but it creates more jobs. So the coastal states are keen that shipbuilding yards come up in their states.
But the investment-friendly Gujarat cannot announce any new projects because of the impending elections. Shipping Corporation of India, largest domestic firm in the sector, has announced plans to set up at least two shipbuilding yards with an investment of Rs2,000 crore each.
It would be bidding for the projects announced by the government. “Globally, shipbuilding yards are running choc-o-bloc. We cannot take delivery of ships till 2011,” SCI CMD S C Hajara said.
India has 28 ship building yards and the largest ship built in the country are 45,000 DWT in Cochin Shipyard. Public sector company Cochin Shipyard plans to build small ships at its yard with an investment of Rs98 crore.
It would make anchor handling tugs, platform supply vessels, offshore vessels, coastal tankers, container and feeder vessels targeting an additional turnover of Rs 500 crore per annum. ABG Shipyard plans to invest Rs600 crore at its new shipbuilding yard in Dahej that is under construction. The Dahej unit would specialise in making oil rigs.
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First Published: Sun, Dec 02 2007. 02 54 PM IST