Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

India Government approves 32bn funding for SCI vessels

Mumbai: The Indian government has approved a proposal by the state-run Shipping Corporation of India (SCI) for the purchase of 12 vessels at a cost of Rs 31.93bn ($793.6m), reports Reuters. The vessels will cater to India's growing demand for crude oil imports.

The government also approved the purchase of three dredgers for the Dredging Corporation of India, another state-run firm. The vessels will be purchased from Dutch firm, IHC Holland Merwede, at a cost of $270m.

Both companies have also been given permission to partly-fund these purchases through money raised on the overseas debt market.  [20/07/07]

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish