The Hindu Business Line : SCI mulling joint venture plan with SAIL

New Delhi, March 26 Shipping Corporation of India on Thursday said it is actively considering its plans to enter into a joint venture with steel major SAIL. But, there is no timeline available by which the joint venture will be firmed up.

“We are actively considering the proposal. The consultants had made a presentation to the Board a few days ago. There are several options which are being studied,” Mr U.C. Grover, Director-Technical and Offshore Services, said on the sidelines of a conference here today.

The firm would primarily provide shipping-related services to SAIL for importing coking coal and may also participate in worldwide dry bulk shipping trade. SCI and SAIL had announced the joint venture for carrying out dry bulk shipping trade and importing coking coal.

The company plans to buy 40 more ships and double its shipping tonnage to 10 million tonnes by 2012, though it has deferred its ship buying plans in the current fiscal.

“Our plan is to grow SCI to at least about 10 million tonnes (GRT-gross registered tonnage) by ordering about 40 ships in the remaining years of the five year plan,” SCI Chairman and Managing Director, Mr S. Hajara, told reporters.

He further added that the company is keen to enter the shipbuilding sector and is in talks with Korean companies.

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