Financial Daily from THE HINDU group of publications
Wednesday, May 03, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 03, 2006 |
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Logistics - Shipping L&T forays into shipbuilding Our Bureau
Expanding horizons Vessels will be built at a new shipyard at Hazira, Surat. The shipyard will focus on construction of commercial vessels, warships for Navy, Coast Guard. The yard will have capacity to construct vessels up to 150 m long with a displacement of 20,000 t
MR A.M. NAIK, CMD
Mumbai , May 2 The boom in the shipbuilding market has attracted a new player. L&T, one of India's leading engineering and construction house, has decided to expand its business canvas by foraying into the booming shipbuilding market. L&T announced its foray into the ship building sector with the winning of a contract for construction of four ships valued at Rs 440 crore for Zadeko Ship Management of the Netherlands. Other leading shipping companies across the world are also in touch with the company for their fleet augmentation requirement. "The (Zadeko) order marks the formal launch of L&T's venture into shipbuilding. The vessels will be built at a new shipyard that will form part of the company's modern engineering complex at Hazira, Surat," the company said. Mr A.M. Naik, L&T's Chairman and Managing Director, said shipbuilding would significantly expand the company's high technology manufacturing capabilities and represented another major step in meeting L&T's strategic growth objectives.
Enhancing share
He added that the new venture would be aligned with the national priority for extending India's shipbuilding capabilities and enhancing the country's share of the global shipbuilding market. Zadeko, the Rotterdam-based shipping company, caters to special purpose cargo movements. Its management had expressed the desire to continue the company's association with L&T for its future vessel acquisition programme across a series of vessels. Production of the ships is scheduled to commence in July this year. In line with the global shipbuilding trends, L&T will adopt modular construction and seamless work flow techniques at its shipyard to meet the stringent delivery schedules. The vessels will have a deadweight capacity of 8,250 tonnes and can carry 830 TEUs of containerised cargo. L&T's shipyard at Hazira will focus on construction of commercial vessels and warships for the Navy, as well as the Coast Guard. The yard will have the capacity to construct vessels up to 150 m long with a displacement of 20,000 tonnes.
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