L&T to Invest in Shipbuilding Venture

Larson and Turbo (L&T) will invest in a new greenfield shipbuilding venture, reports Business Line. The company is considering sites at the coastline of Tamil Nadu, Andhra Pradesh and Gujarat for erecting the shipbuilding unit. L&T has a shipbuilding yard at Hazira, in Gujarat, but due to the little scope for expansion, the company is looking for other locations. It requires about 1,000 acres along the coastline. Source: Moneysource