Engineering major Larsen & Toubro (L&T) today said it has bagged a Rs 447 crore contract from the Defence Ministry to supply 18 high speed interceptor boats for the Indian Coast Guard.

"With this order, L&T is positioned as the foremost Indian shipyard in terms of capability to indigenously design and construct the largest number of interceptor boats for the Ministry," the company said in a statement.

The company had earlier bagged a contract worth Rs 977 crore for 36 similar vessels for the Coast Guard, it said.

"These boats are expected to significantly enhance India's coastal security," the release said.

The interceptor boat is a planing craft, capable of achieving speeds exceeding 40 knots and is built with a full aluminium-alloy light-weight hull, which is powered by a twin water-jet propulsion system to enable quick response that is crucial for coastal surveillance.