L&T to build 36 high speed boats for coast guard

Discussion in 'Economy & Infrastructure' started by Sridhar, Mar 22, 2010.

  1. Sridhar

    Sridhar House keeper Moderator

    Feb 16, 2009
    Likes Received:
    IANS, Mar 22, 2010, 11.42am IST

    MUMBAI: Infrastructure construction major Larsen & Toubro (L&T) will design and construct 36 high speed interceptor boats worth Rs 970 crore for the Indian Coast Guard, the company announced in Mumbai on Monday.

    The contract, awarded by the defence ministry, is one of the initiatives of the government to strengthen coastal security.

    The interceptor boats will have aluminium-alloy hull construction with water jet propulsion to enable quick response, necessary for the intended applications, and shall be also crucial for near shore action.

    The boats shall be designed in-house at the L&T's Ship Design Centre, a part of its heavy engineering division, and shall be constructed at its existing shipyard at Hazira (in Gujarat) and the new shipyard coming up at Katupalli near Ennore (in Tamil Nadu).

    L&T has already been building special purpose vessels and heavy lift ships for export at its Hazira Yard. It is equipped to construct ships upto 20,000 tonnes.

  3. gogbot

    gogbot Regular Member

    Oct 2, 2009
    Likes Received:
    SO we have our first private company designed systems.

    Seems like the promises for the decade are well on track t be fulfilled.

    Hope fully this is just a sign of many other things to come.
  4. nandu

    nandu Senior Member Senior Member

    Oct 5, 2009
    Likes Received:
    L&T buoyed by defense order

    L&T buoyed by defense order

    After starting on a positive note, the Indian stock markets lost some traction during previous two hours of trade. They could not hold on to the opening gains and pared some of it on account of profit booking in realty, auto, telecom and FMCG sectors. Nevertheless, stocks from healthcare, metal, energy and consumer durable sectors are managing to find investors� favor.

    The BSE-Sensex and the NSE-Nifty are trading higher, up by 52 points and 20 points respectively. The BSE-Midcap and BSE-Smallcap are trading in the positive, up by around 0.43% and 0.75% respectively. The rupee is trading at 45.51 to the dollar.

    According to a leading business daily, India�s largest engineering companyL&T has won an order worth Rs 9.8 from the Indian defense ministry. This order will require L&T to design and construct 36 high-speed interceptor boats which will be used by the coast guards for patrolling the high seas. It will build these boats in its shipyards in Gujarat and Tamil Nadu with the expected delivery time of 18-19 months. It may be noted that the company is betting big on the defense sector as a future growth driver.

    It may be noted that L&T has been involved in India-Russia project for building the supersonic cruise missile BrahMos and also in construction of a nuclear-powered submarine in association with the DRDO (Defence Research and Development Organisation). Given L&T�s experience of working with the defense sector, we believe that the company has lot to gain from the opening up of the defense sector to private players. The government�s trust creates a huge entry barrier to new entrants. However, the orders can be sporadic making the future prospects a little unpredictable. Engineering stocks like L&T, Crompton Greaves and BHELare currently trading in the green.

    According to a leading business daily, India's largest private sector lenderICICI Bank has got a Qualified Full Banking (QFB) status in Singapore. This means that the bank through its Singapore branch can launch full banking services in Singapore going forward. It may be noted that since 2003, the bank has been offering banking services like international loan syndication and corporate banking in Singapore. With the new QFB approval the bank will also be able to take deposits and disburse loans in Singapore. ICICI Bank believes that this is significant for the bank as it expects the client base to increase significantly in the market. This will also strengthen the bank�s footprint in terms of corporate, commercial, wealth management and direct banking services in the region. Though this appears to be a positive for the bank, we hope that it does not go over the board in aggressively tapping the market and as a consequence amass more bad debts on its books. Currently, the stock of ICICI Bank is trading lower.


Share This Page