Bharati Shipyard Expects Order Boost

10 October 2010 (Last Updated October 10th, 2010 18:30)

India's Bharati Shipyard is expecting orders worth INR10bn ($224m) from the offshore and defence sectors over the next year. The shipbuilder has an order book worth INR50bn ($1.1bn), of which INR20bn ($448m) is still to be executed. The shipping company said it has an INR2bn ($44m

India’s Bharati Shipyard is expecting orders worth INR10bn ($224m) from the offshore and defence sectors over the next year.

The shipbuilder has an order book worth INR50bn ($1.1bn), of which INR20bn ($448m) is still to be executed.

The shipping company said it has an INR2bn ($44m) capex plan for 2012 to build two shipyards in the Indian states of Karnataka and Maharashtra.

Bharati expects the Karnataka shipyard to be completed within the next two years, according to Reuters.