Mumbai: Infrastructure and engineering company Larson and Turbo (L&T) will invest between Rs1,500 crore and Rs2,000 crore in a new greenfield shipbuilding venture.

The company is looking at the coastline of Tamil Nadu, Andhra Pradesh and Gujarat for setting up the shipbuilding unit.

L&T has a shipbuilding yard at Hazira in Gujarat. The company is scouting around for a different location, as there is little scope for expansion of the Hazira unit. It requires about 1,000 acres along the coastline with adequate depth close to the shore.

L&T recently bagged a Rs440-crore order from Rotterdam-based Zadeko Ship Management CV to build four ships.

Zadeko caters to special purpose cargo movement.

L&T also has plans to build ships for the Navy and Coast Guard.

The new shipbuilding unit will have capability to make all types of vessels, including high-tech ones such as CNG, LNG carriers and containers of up to 3 lakh deadweight tonnes (DWT).