Indian shipping lines form joint venture

Bharati Shipyard Ltd. and Apeejay Shipping Ltd. on Wednesday agreed to a form a 50-50 joint venture to set up a shipbuilding yard along India's eastern coast.
The companies said the proposed joint venture would be the first of its kind in India to bring synergy between a shipbuilder and a leading shipping company, and is expected to commence operations by first quarter of 2009.
Bharati and Apeejay would jointly invest in the shipbuilding and ship repair facilities and would have the capacity to build and repair vessels of all sizes.


Source: American Shipper