L&T bags $95mn order from BigLift Shipping

MUMBAI: Engineering and construction major Larsen and Toubro (L&T) has bagged a $94.95 million contract from the Netherlands-based BigLift Shipping BV, a part of the Spliethoff Group, for construction of two ships.

The vessels would be built at the company's existing shipyard, that is a part of its engineering complex at Hazira, Surat and the production is scheduled to commence in June 2008, L&T said in a communique to the Bombay Stock Exchange (BSE).

The vessels would be delivered in November 2009 and March 2010, it added.

The vessels, with a length of 154.8 m, beam 26.5 m and 18680 t deadweight, would be able to carry all kinds of dry cargo as well as project cargoes and heavy lift in an efficient manner.

The management of BigLift Shipping had expressed desire to continue its association with L&T for its future vessel acquisition programmes, L&T added.

BigLift Shipping, specialises in worldwide transportation of heavy lifts and project cargoes and is currently operating 13 heavy lift vessels having a maximum lifting capacity of 1,400 MT.

Earlier in May, L&T forayed into shipbuilding business with a Rs 440 crore contract from the Netherlands-based Zadeko Ship Management CV for four ships.

The company's shares were trading at Rs 2,135, up 5.28 per cent at the BSE in afternoon trade.