Friday, October 5, 2007

Tatas to enter into Shipbuilding

The Tata group is looking at the possibility of entering the shipbuilding business even as India looks to boost its shipbuilding capabilities to meet growing global demand for cargo carrying ships.


The Tata group has shown interest in building a shipyard near Shivrajpur in Gujarat after the state government invited expressions of interest from private firms, according to a senior Gujarat government official. In December 2006, the company signed an agreement to set up a 50:50 joint venture with Japanese transportation firm Nippon Yusen Kabushiki Kaisha (NYK) Line for setting up a shipping company.


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