Mumbai, May 2 (UNI) Larsen&Toubro Ltd (L&T) today announced that the company has won a key contract for construction of four ships valued at over Rs 440 crore from Zadeko Ship Management CV of the Netherlands.
The order marks the formal launch of the company's venture into ship building. The vessels will be built at a new shipyard that will form part of the company's modified engineering complex at Hazira.
The company's Chairman and Managing Director A M Naik said ''ship building would significantly expand the company's high technology manufacturing capabilities and represented another major step forward in meeting L&T's strategic growth objectives.'' The new venture would also be aligned with the national priority for extending India's ship building capabilities and enhancing the country's share of the global shipbuilding market, he said.
Zadeko the Rotterdam-based shipping company, caters to special purpose cargo movements. the management had expressed the desire to continue their association with L&T for its future vessel acquisition programme across a series of vessels.
Other leading shipping companies across the globe are also in touch with the company for their fleet augmentation requirements.
Production of the ships is scheduled to commence in July. In line with contemporary global ship building trends, the company will adopt modular construction and seamless work flow techniques at its shipyard to meet the stringent delivery schedules.
These highly specialised vessels are among the only ones of its kind to be made in India. The vessels have a deadweight capacity of over 8,250 tonnes, 17,000 cubic metres of cargo hold and can carry 830 TEU of containerised cargo.
The company'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 high technology vessels of up to 150 metre length and displacement of 20,000 tonnes.
Further expansion programmes envisage installation of ship lift system for new construction, repairs and refit of ships including defense and paramilitary vessels.
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