Bharati Shipyard Delays Fundraising, New Units

Bharati Shipyard Ltd. has put on hold plans to build two manufacturing facilities, and delayed plans to raise $200 million to expand a partly owned units.
The shipyards in eastern India, part of an equal joint venture with Apeejay Shipping Ltd., won't be built for the next two to three years due to weak demand for big ships, said P.C. Kapoor, Bharati's managing director.
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Source: The Wall Street Journal