Chennai, Apr 15 (UNI) The Tamil Nadu Government today signed a Memorandum of Understanding (MoU) with construction major Larsen and Toubro for constructing a mega ship building yard and a harbour complex at Kattupalli village in adjoining Tiruvallur district.
The world class integrated ship building yard, which would be the largest facility in the South Asian region, and the separate harbour complex would be constructed in a joint venture mode with a total investment of Rs 3,068 crore.
The MoU was signed by Tamil Nadu Industrial Development Corporation (TIDCO) Managing Director S Ramasundaram and L and T Board of Directors member K V Rangaswamy in the presence of Chief Minister M Karunanidhi at the State Secretariat.
Stating that it would provide direct job opportunities to 5,000 people and indirect jobs to another 5,000, an official release here said the shipyard would have facilities to handle big cargo ships, ships carrying petroleum products, the warships of Coast Guard and submarines.
It would also have facilities to handle passenger and cargo ships, especially those carrying petroleum products, repair commercial and warships, and equipped with heavy machinery needed for ship building.
The construction works would commence by the end of this year and the project would be completed in two years.
The release said L and T had chosen Kattupalli for setting up this project after visiting Andhra Pradesh, Gujarat, Maharashtra and several coastal villages of Tamil Nadu, due to the pro-active industrial approach of the Government and due to the vast HR resources available in the State.
Ancillary industries to manufacture equipment and spare parts needed for ship building and exports would be set up under the project, which would serve as the nerve centre for heavy industries like the auto component parks set up by the State.
UNI GV RL KP1802