L&T bags shipbuilding export order

Larsen & Toubro Ltd (L&T) has forayed into the shipbuilding business by bagging a Rs 440 crore contract from the Netherlands-based Zadeko Ship Management CV to construct four ships. The vessels would be built at a new shipyard, part of the L&T’s engineering complex at Hazira in Surat and the production of the ships was scheduled to commence in July, the company informed the Bombay Stock Exchange.