Bengal Shipyard Limited, a 50:50 joint venture between Bharati Shipyard and the Apeejay Group, will start construction work on its proposed shipyard project in South Bengal in July. “Let the socio-political scene in the state stabilise. We hope to start the project from July,” Bharati Shipyard Managing Director Vijay Kumar said.
The project still faces hurdles over land acquisition, he said. So far, we have not been able to acquire land for the project, he told reporters here last night.
The shipyard will require 500 acres of land. In addition to this project, the JV plans to construct another shipyard in Orissa, which will cover an area of 900 acres.
The two projects will entail an investment of Rs 2,000 crore, which will be shared equally by the promoters. Commercial operations at the ports are likely to start from 2013.
Meanwhile, Bharati Shipyard sold two ice-class ships at its shipyard in Howrah for operating in the Baltic region.