L&T to invest $110 mn on shipyard

Larsen & Toubro Ltd on tuesday said it would invest about $110 million to set up a shipyard that can build huge vessels, including large crude carriers. “The company would invest about $110 million for the project as part of the second phase of L&T’s ship building venture,” L&T Senior Executive Vice President (Heavy Engineering Division) said. He said the company was looking for a location both on the eastern and western coasts of the country to set up the shipyard.