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New Delhi, Nov 28: Infrastructure major Larsen&Toubro (L&T) has said it proposes to invest in a Shipyard at the East Coast in Hyderabad for which it is holding talks with the governments on the acquistion of land and SEZ status.

The company is looking for a fabrication facility and would require 600 acres of land for the said project, being built for defence requirements, a company spokesperson said.

However, details on investment were unavailable.

L&T also plans to build liquefied natural gas and oil carriers, survey ships, offshore and multi-support vessels weighing as much as 25,000 tonnes at this shipyard to support its existing engineering projects.

Company Chairman and Managing Director A M Naik, while having discussions with Minister of State for Defence M M Pallam Raju, yesterday said L&T has submitted investment details to the Centre and state governments and the project will be completed by 2010.

The project is expected to expedite the development of the area and generate growth and employment in a big way in the region, he added.

UNI