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Bharati Shipyard + Apeejay Shipping Joint Venture

October 16, 2007

Bharati Shipyard and Apeejay Shipping, one of the largest private ship owners announced that they have sign a 50:50 joint venture agreement for setting up a large modern ship building yard along the eastern coast of the country. The company and Apeejay Shipping are in the process of jointly finalizing the site and shall announce the location in the coming weeks.

The proposed joint venture which is the first if its kind in India to bring synergy between a reputed ship builders and a leading shipping company, is excepted to commence operation by 2009.

The company and Apeejay would jointly invest in the state of the art 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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