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Bharati Shipyard buys UK's Swan Hunter – paper

India's second largest private shipbuilder, Bharati Shipyard Ltd., has acquired UK-based Swan Hunter Shipyard for an undisclosed sum, the Business Standard daily reported on Tuesday, quoting sources.

Bharati would dismantle Swan Hunters machinery and equipment and bring it to India over six months, the paper said.

Bharati officials could not be reached immediately.

“As a company policy we do not react on market speculation,” the paper quoted a Bharati spokesperson as saying.

A comparable new shipyard would cost 2-2.25 billion rupees, the report said.

Swan Hunter, a 130-year-old ship yard, builds ships and offshore structures and has a capacity to build vessels up to 100,000 dead weight tonnage, the report said.

It has built more than 1,600 ships including two aircraft carriers, the paper said.

Source : Reuters

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