L&T's shipbuilding arm bags orders worth Rs 483 cr

L&T's shipbuilding arm bags orders worth Rs 483 cr
Larsen & Toubro Ltd., the USD 12.8 Billion conglomerate, today said that its subsidiary L&T Shipbuilding has secured orders worth Rs 483 crore in the first quarter of 2012-2013 for 4 specialized commercial vessels from Qatar-based Halul Offshore Services Company.

The scope of order includes design, construction, trials and commissioning of two Platform Supply Vessels, (PSVs) and two Anchor Handling, Towing, Supply and Support Vessels (AHTSSVs), the company said in a filing to the Bombay Stock Exchange.

The deal bagged amongst stiff international competition, affirms L&T's capabilities in building commercial vessels, the filing added.

The PSVs will be equipped to handle various duties like fire fighting, rescue and standby, offshore supply and oil recovery, while the AHTSSVs will be equipped for emergency response and rescue, offshore supply and oil recovery.

L&T has established shipbuilding capabilities at Hazira on the West Coast & at a new shipyard cum port at Kattupalli, near Chennai on the East coast.

Meanwhile, defying the weakness in the broader market, shares of the company closed at Rs 1,309, up 2.53 per cent on BSE.

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