L&T to Invest ₹1,000 Crore in Katupalli Shipyard.

Construction behemoth Larsen & Toubro Ltd (L&T) is set to inject a substantial ₹1,000 crore into its shipbuilding complex at Katupalli, near Chennai. This significant investment aims to unlock the facility's full production potential, which has remained untapped despite earlier environmental clearances.

The Katupalli complex, which received crucial Environment Clearance and Coastal Regulation Zone clearance in 2009, was initially permitted to produce 50,000 tonnes per annum for its modular fabrication facility (MFF). Additionally, it had the green light for the annual construction of 25 new ships and 60 ship repairs.

However, L&T has been unable to meet these ambitious targets with its existing infrastructure. Documents reviewed by businessline indicate the company's clear intent to undertake further development work at Katupalli to bridge this gap.

The planned upgrades are crucial for L&T to finally achieve its permitted production capacity of 50,000 tonnes per annum for the MFF, alongside the ability to construct 25 ships and carry out 60 ship repairs annually. This strategic investment underscores L&T's commitment to scaling up its shipbuilding operations and maximizing the potential of its Katupalli facility.