LARSEN & TUBRO UPDATES

Larsen & Toubro Ltd, which recently forayed into the shipbuilding sector, will be setting up a Rs 2,000-crore shipyard in India with the capacity to build high-value ships. The company is looking for a suitable piece of land, measuring 800 acres to 1,200 acres, to set up the shipyard. The company, which has narrowed down the search to the three States - Tamil Nadu, Andhra Pradesh and Gujarat - expects to finalise the location by end of January 2006. There is a huge demand for shipbuilding in India, which has not yet developed the capacity to build big-sized carriers to the desired level. The country needs at least three to four more efficient shipyards