L&T Shipbuilding, part of the engineering conglomerate Larsen & Toubro (L&T), has said its facility, as also those of other private shipyards, is running at a low capacity in the absence of a level playing field.
The company has invested around Rs 40 billion so far to set up a facility at Katuppali, near Chennai, which is capable of manufacturing 10 ships but it making only two at present.
“…not only us, the private sector utilisation (capacity) is only 20-25 per cent, since we are over-feeding the public sector,” B Kannan, managing director and chief executive, L&T Shipbuilding Ltd told Business Standard.
He added, today there was no gap in the technology and infrastructure capability, or financial strength, but it was a gap in regulation and policy that was hurting the private sector. Read More