L&T signs $ 94.9m Contract

Construction and engineering firm Larsen & Toubro Ltd. won a $94.9m shipbuilding contract from BigLift Shipping of the Netherlands. L&T said that it would construct two ships for the Dutch company at the shipyard in its engineering complex at Hazira in Gujarat. L &T, which had forayed into shipbuilding last year, currently builds ships with a displacement of up to 20,000 dead-weight MT (DWMT) and also plans to construct a shipbuilding yard for bigger vessels. Production of the ships is scheduled to commence in June 2008 and the vessels shall be delivered by March 2010. The18,680 dwt vessels measure 154.8 x 26.5 m.