Indian shipbuilder Larsen and Toubro is contemplating a new shipyard in the eastern Indian state of Tamil Nadu for the construction of large, ocean-going vessels including cruise ships.
To be completed by 2010, the IRs3,000 crore (US$722 million) yard would also have the ability to build liquid and gas tankers, FPSOs, military vessels, and offshore platforms. It is the company's stated intention to build cruise ships that has industry leaders sceptical however. "From my point of view, it will be very difficult to catch up with the European players in building cruise ships," said Reinhard Luken, secretary general, Community of European Shipyards Association. "The entry barriers to the production of cruise ships are very high due to technical and commercial risks. Companies in several nations, including the US and Japan, have in the past tried entering this field with no or limited success and stepped out," Luken said. "However, India could certainly become quickly an attractive destination for the cruise industry. If the cruising market would grow fast, I would assume that this could also create opportunities for European and Indian shipyards to cooperate." L&T seems to agree that the technology for building cruise ships is different and have to go in for a tie-up with an established European player for building cruise ships.
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