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Jayanta Mallick

Kolkata , Aug. 28

Bharati Shipyard on Monday was buoyed up by over 9 per cent finish at Rs 344.30 on the BSE with a traded quantity of 1.09 lakh shares.

Bharati's entry into the new waters would be marked by implementation of an order for manufacture and supply of a jack-up drill rig to Great Offshore Ltd, now a division of GE Shipping, for an undisclosed amount.

Bharati was, so far, engaged in design and construction of sea-going, coastal, harbour, inland crafts and vessels. The product range, which initially was limited to inland cargo barges, deep-sea trawlers and dredgers, now includes manoeuvrable and power-packed ocean going tractor tugs, cargo ships, tankers and other support vessels required for the offshore industry.

The 350-feetrig is scheduled for delivery in the fourth quarter of calendar 2008. This advanced rig will add to the current fleet of 2 drilling units of the GE Shipping's offshore division. The rig will be transferred to the proposed entity, Great Offshore Ltd, subsequent to execution of a de-merger plan.

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