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Bharati Shipyard plans to
set up a modern shipbuilding yard along India''s eastern coast at an investment
of around Rs2,000 crore in a 50:50 joint venture with Apeejay Shipping, industry
sources have indicated. The
proposed shipyard, expected to start operations in 2009, will build superior ships
of high tonnage and also cater to the global ship repairing business, Bharati
has said in a statement. India''s
shipbuilding industry is expected to touch the $20 billion milestone by 2020.
Consequently, Indian ship builders are expanding their capacities with buyouts
of other yards and assets. Shipping and engineering firms are also planning to
set up shipbuilding yards to exploit the sector''s surging potential.
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