Bharati Shipyard bets big on building rigs

After foraying into the rig manufacturing sector, Bharati Shipyard Limited is now focusing more on building rigs with its plans to construct Rs 600-crore greenfield shipyard at Usagaon in Maharashtra. According to PC Kapoor, MD, Bharati Shipyard, the company would try to get around 40% of its total business from rig manufacturing as there is a rig shortage globally.

The private shipyard company is now expecting over Rs 2,000 crore business every year from building new rigs, added sources. The company is now negotiating with domestic and international oil giants in this regard and is expecting to get four new orders in this year-end. The company is also developing a facility for refurbishing of rigs, with almost 20 orders expected by 2008.

Source:RamblerNews