L&T to invest USD 400 mn on expanding shipbuilding capacity

Construction major Larsen & Toubro on Tuesday said it will invest USD 400 mn in ramping up its ship manufacturing capacity.

Construction major Larsen & Toubro on Tuesday said it will invest USD 400 mn in ramping up its ship manufacturing capacity.

"We have lined up investment for around USD 400 million which will be spent on ship building capacities mostly dedicated to navy near Ennore port," Larsen & Toubro Senior Executive Vice President and member of the board MV Kotwal said on the sidelines of the defence expo 2010.

Over the next four-five years, we are targeting a revenue of Rs 2,500 crore from defence, nuclear and avionic segment.

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