Following is an excerpt from a report in Telegraph.

Another proposal submitted by Apeejay Shipping, the country’s largest privately-owned shipping company, and Bharati Shipyard Limited, one of the leading private shipyards, to set up a project in Orissa at an estimated cost of Rs 2,200 crore was also cleared by the authority today. If and when the project materialises, it would be the first ship building and repair project in the private sector in eastern region.

Apeejay Shipping has a fleet of modern dry bulk carriers operating worldwide. An ISO 9001:2000 company, Apeejay Shipping is a part of the diversified conglomerate, Apeejay Surrendra Group, established in 1910.

The project is proposed to be set up in an area spread over 1,050 acres near the upcoming all-weather port at Dhamra in Bhadrak district at an estimated cost of Rs 2,200 crore. The project would be implemented in three phases and completed by 2013, the sources said.

The greenfield project is expected to create an opportunity for direct employment to 11,300 persons and indirect employment to 40,000 persons.