L&T's shipyard project to be ready by Dec

Larsen & Toubro's (L&T's) Rs 4,600-core shipyard-cum-port project in Tamil Nadu would go on stream in December 2011.

A shipyard-cum-minor port complex is under construction in Kattupalli village, Ponneri taluk of Tiruvallur district through a joint venture company of Tidco and L&T namely, L&T Shipbuilding Limited.

This complex would include manufacturing units and facilities for building cargo carriers, defence ships including submarines, offshore platforms for oil / gas sectors, re-engineering of commercial and defence ships and heavy engineering fabrication and components production for ship building, state industries minister S P Velumani announced in the Assembly.

He said the total investment for the project has been estimated at Rs 4,675 crores. The project is implemented in two phases; Phase I will require an investment of about Rs 3,375 crore.

The first phase of the project would be commissioned in December 2011. This shipyard complex is expected to generate direct and indirect employment for about 10,000 persons.