The Hindu Business Line : Bharati, Apeejay tie up to build shipyard

Coimbatore, Oct 16 Bharati Shipyard Ltd (BSL) has signed with Apeejay Shipping Ltd, one of the largest private ship owners, an agreement for a 50:50 joint venture for setting up a ship building yard along the eastern coast of the country.

They are in the process of jointly finalising the site and will announce the location in the coming weeks.

The proposed venture is expected to commence operation by 2009. BSL and Apeejay would jointly invest in the technology and modern ship building and ship repair facilities and would have the capacity to build and repair vessels of all sizes up to VLCC.

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