This Article is From Jun 03, 2015

L&T Wins Rs 468-Crore Defence Order

L&T Wins Rs 468-Crore Defence Order
New Delhi: Larsen & Toubro (L&T) bagged a contract worth Rs 468 crore from the Ministry of Defence for the design and construction of a floating dock for the Indian Navy (FDN).

The floating dock is expected to significantly augment support infrastructure of the Navy for docking of warships and submarines for repair and refit.

"In keeping with the government's 'Make in India' thrust, complete design and engineering of FDN will be undertaken in-house at L&T's Warship Design Centre," the infrastructure major said in a statement.

"The floating dock will be capable of docking naval ships and submarines of up to 8000 T displacement with draughts up to 7 m, during day and night," said MV Kotwal, president-heavy engineering and board member at Larsen & Toubro.

The company said the dock will conform to international standards and will incorporate the automated ballast control system.

The FDN will be self-sufficient, catering to service requirements of docked and berthed warships, it added.

L&T is also executing a Ministry of Defence contract for design and construction of 54 fast Interceptor Boats (IBs) for the Indian Coast Guard (ICG).

It said 27 IBs have already been delivered to ICG, the latest one two years ahead of schedule. The company said it is looking to complete delivery of all boats well ahead of the cut-off.

The award of the floating dock contract to L&T came on the back of a recent order for design and construction of seven offshore patrol vessels for ICG at Rs 1,432 crore.

L&T's Kattupalli Shipyard near Chennai is specially designed for undertaking simultaneous construction and refit of multiple ships and submarines.

With the construction and refit of multiple defence vessels, L&T is now playing a significant role in the creation and upkeep of India's defence fleet assets, the company said.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $15 billion in revenue and operates in over 30 countries worldwide.

As of 1:37 p.m., shares in L&T were trading 0.39 per cent lower at Rs 1665.70 apiece on the BSE.