 "A man waits at a bus-stop with an advertisement of Larsen & Toubro outside the company's manufacturing unit in Mumbai")
Larsen & Toubro on Thursday said it has entered into a pact, valued at $99.7 million (around Rs 660 crore), with Vietnam Border Guard for design and construction of high speed patrol vessels.
"Larsen & Toubro (L&T) has signed the principle contract with Vietnam Border Guard... For design and construction of high speed patrol vessels in India as well as transfer of design and technology along with supply of equipment and material kits for construction of follow-on-vessels at a Vietnam shipyard," the company said in a BSE filing.
The high-speed patrol vessels are purpose-built for controlling and protecting sea security and sovereignty, detecting illegal activities such as smuggling, and undertaking search and rescue missions.
Constructed of aluminum alloy, the vessels are about 35 metres long and can clock a speed of 35 knots with a state-of -the-art navigation and surveillance equipment and self-defence capabilities on board.
In keeping with the government of India's Make in India policy, complete design and engineering of the vessels will be undertaken at L&T's dedicated Warship Design Centre with the vessels being built at L&T's state of the art Kattupalli Shipyard, off Chennai.
S N Subrahmanyan, President and Deputy Managing Director of L&T said that contract is a testimony to L&T's world-class technological capabilities.
He also hoped that the contract will pave the way for stronger bilateral ties between India and Vietnam.
