The Exchange had sought clarification from Larsen & Toubro with respect to news article appearing in Mint on August 21, 2015 titled ‘L&T scraps Gujrat port project citing environmental reasons’. Larsen & Toubro replied stating that L&TIDPL, a subsidiary of L&T, had incorporated a wholly-owned subsidiary L&T Port Sutrapada Private to implement the project awarded by Gujarat Maritime Board (GMB) in February 2008 on a competitive bidding basis for setting up a greenfield sea port at Sutrapada on BOOT basis. While the Company had geared itself for undertaking the project, GMB faced severe difficulty in allocating the required land for the project. In July 2010, GMB approved shifting of the location of the project site to Kachchigarh, Dwaraka District for development of the sea port. The Subsidiary was re-christened as L&T Port Kachchigarh Limited. However, pursuant to marine surveys carried out at Kachchigarh and detection of the presence of growing coral reefs in the vicinity, it was communicated to GMB that the Company did not seek further extension to the Letter of Intent that had expired in August 2013. As to Kattupalli Port near Chennai, the Company cannot comment on speculative statements.
The above information is a part of company’s filings submitted to BSE.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3906.05 |
| Rail Vikas Nigam | 298.75 |
| NCC | 166.40 |
| KEC International | 587.75 |
| Kalpataru Projects | 1266.65 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: