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Punj Lloyd buys into Pipavav Shipyard

Article-Punj Lloyd buys into Pipavav Shipyard

Punj Lloyd buys into Pipavav Shipyard

Mumbai: India's Punj Lloyd Ltd said it has signed a deal to acquire a 25.1 pct stake in Pipavav Shipyard Ltd for 4.03bn rupees, to support the growth of its business in the offshore sector.

Citing the ongoing shortage in shipyard capacity and rising demand for offshore facilities, the company said it aims to leverage the over 30% a year growth in the next few years.  [03/08/07]

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