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SCI wants to invest in yards and ports

SCI wants to invest in yards and ports

New Delhi: The government is considering a proposal to allow Shipping Corporation of India (SCI) to raise fresh equity from stock markets while divesting part of its shareholding in the company. "We are working on some ideas. One of them is disinvestment of government stake and issue of fresh equity by the company. However, there is no definite proposals," shipping secretary K Mohandas said on the sidelines of a seminar organised by Indian Chamber of Commerce.
The government currently holds 80.12% in SCI.
SCI is planning diversification of its business by including shipbuilding and port terminal handling in its portfolio. "We are interested in diversification into other areas of maritime sector like shipbuilding and port terminal management. We don't want to remain a shipping company. However, we have not prepared any concrete proposal," SCI chairman & managing director S Hajara said.
The company is also in the process of ordering for more than 30 ships worth Rs 8,000 crore by the end of March 2012. "From 2005 to now, we have ordered for 39 ships worth Rs 9,000 crore, of which ships of Rs 2,000 crore have been delivered. We will now order for 30-odd new ships. These may sourced from South Korea and China," Hajara said. [01/06/10]

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