Bharati Shipyard to set up Greenfield Shipyard at Dhabol

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Mumbai, Jan 10 (UNI) Spreading its wings across the vast Indian coastal line, Bharati Shipyard today announced a Rs 600 crore Greenfield Shipyard at Dabhol with a capacity of 1,00,000 dead weight tonnage (DWT).

Announcing this at a press conference here, Bharati Shipyard Managing Direcor P C Kapoor said that the 250 acre shipyard, located at the creek in Usgaon in Ratnagiri district, would be an all weather yard as it is situated far away from the sea and would be calm even during the monsoon. Other ideal conditions include a very good water depth and adequate water front besides, scope for further expansion, he added.

Mr Kapoor said that the investment to be completed in about two years time would have an internal accrual of Rs 200 crore besides, a debt of Rs 400 crore.

He said that the Company has already started shipping of equipments and machineries of the floating dock of Swan Hunter Shipyard of the UK, it had acquired recently. The first shipload of machinery is expected to dock in India by this month end.

The machineries would be installed both at Dabhol and Mangalore, he added.

Replying to questions, he said the new Mangalore Shipyard, being constructed at a cost of Rs 450 crore, would become operational by the end of 2008.

Bharati Shipyard already has ship building facilities in Goa and Bori Bhandar besides, Kolkata.

Mr Kapoor said that the Company has already received the approval from the West Bengal Government to set up a huge shipyard in Midnapore district, close to Haldia. The project would be taken as a joint venture with APJ Shipline, and the investment envisaged is around Rs 1,600 to Rs 2,000 crore. Bharati's contribution to the equity would be around Rs 125 crore and the balance would be raised through a mixture of debt and equity. The mode of equity capital is yet to be decided, he added.

The new yard would have capacity of more than 1,00,000 dwt and upto 250,000 dwt, Mr Kapoor said.

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