Bharati Shipyard Acquires Controlling Stake in Tebma

1 December 2010 (Last Updated December 1st, 2010 18:30)

Bharati Shipyard has acquired a 51% equity stake in South India-based Tebma Shipyard for $750m ($16m). The company will get access to three modern and ready-made shipyards in the states of Kerala, Karnataka and Tamil Nadu, which are capable of manufacturing tugs, dredgers and offshore ve

Bharati Shipyard has acquired a 51% equity stake in South India-based Tebma Shipyard for $750m ($16m).

The company will get access to three modern and ready-made shipyards in the states of Kerala, Karnataka and Tamil Nadu, which are capable of manufacturing tugs, dredgers and offshore vessels.

Bharati owns six major shipyards at Malpe in Karnataka and Cochin in Kerala, according to business-standard.com.