Bharati Shipyard plans to focus strongly on the off-shore and defense segments and expects an over INR 2,000 crore of orders over the next one year.

Mr PC Kapoor MD of Bharati Shipyard told PTI that "The off shore and defense segments hold an immense potential. We are betting big on both and expect huge orders from them in the course of the next one-year.”

He said that both are currently growing exponentially and the company expects orders of around INR 2,000 crore from them.

Even now, the company's order-book of INR 5,000 crore has a huge component of off-shore orders at around INR 3,000 crore and defense orders of around INR 500 crore.

Mr Kapoor said that "Oil prices have risen of late and several oil companies are currently looking to add new assets. They want to dispose off their old assets and buy new ones on account of safety concerns.”

Similarly, over the next two years, there would be a huge demand for defense vessels, he said, adding Bharati Shipyard is well positioned to exploit these opportunities.

He said that at present, around 50 ships are under construction at its shipyards due for deliveries by mid-2013.

Asked if the company was facing any problem in the bulk and container segments, he said both the segments are still to come out of recession and one and two clients have asked the company to go slow on deliveries.

Mr Kapoor said that "There have been no cancellations one or two clients have only asked us to go slow on deliveries. There is nothing to worry about.”

(Sourced from PTI)