L&T to invest $400 mn on expanding shipbuilding

17 Feb 2010

Construction major Larsen & Toubro will invest $400 million in ramping up its ship manufacturing capacity. This will be spent on ship building capacities mostly dedicated to navy near Ennore port. Over the next four-five years, it is targeting revenue of Rs 2,500 crore from defence, nuclear and avionic segment.

The company has identified four core areas -- Radar, Electronic Warfare, Avionics and Mobiles - for co-operation with EADS to provide services to the Indian defence sector. The company is particularly bullish on nuclear segment as the sector has a business potential of over Rs 6,000 crore for private firms.

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