Mumbai: India based Bharati Shipyard Limited (BSL) has signed a $43.30m contract with South American company UP Offshore to construct two Platform Supply Vessels at its yards in Ratnagiri and Ghodbunder. "We are extremely proud to announce that Bharati Shipyard is the first Indian shipbuilding company to have bagged this order," BSL md P C Kapoor told The Hindu. "The UP Offshore prestigious order reinforces BSL's premier ranking amongst the leading shipbuilding company across the world in the offshore segment."
BSL has also announced plans to increase the capacity of its proposed third shipyard in Mangalore, from 60,000dwt to 100,00dwt. BSL is currently approaching investors to negotiate a 40% increase to the current $110m budget. The yard, which will be built across 90 acres of land, is slated for completion by mid 2009. [24/03/07]
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