Larsen & Toubro Ltd.

Larsen & Toubro’s (L&T) shipbuilding arm L&T shipbuilding (LTSB) is likely to sign a technical collaboration agreement with Mistubishi Heavy Industries (MHI), Japan to offer a broad range of the technological support for the construction of the commercial vessels. As per the agreement, MHI will provide the licensing and technology support to the LTSB.

Through this deal LTSB is aiming to strengthen the shipbuilding business through the introduction of the technology from a global leader. MHI is likely to provide the support for the initial three years, with an option to extend beyond that time frame. MHI will comprise design support and a broad range of training, in ship construction and quality control.

Support activities will further include consultation relating to potential expansion of L&T's shipbuilding facilities in the future and to overseas procurement of shipbuilding materials, as well as support for LTSB’s marketing efforts. Going forward, MHI and LTSB will market vessels built by LTSB under exclusive technical collaboration with MHI.

L&T Shipbuilding and MHI further plans to step up its aggressive development of new business opportunities relating to shipyards in newly emerging economies with the latest shipbuilding technical collaboration agreement. MHI and L&T have been partners since 2007, with two joint ventures established in the power generation system sector.