Online edition of India's National Newspaper
Tuesday, Jun 12, 2007
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Online edition of India's National Newspaper Tuesday, Jun 12, 2007 ePaper |
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BIG PLANS: (from left): S. Hajara, Chairman and Managing Director, Shipping Corporation of India, Capt. P. V. K. Mohan, Member, National Shipping Board, A. K. Chanda, Chairman, Kolkata Port Trust, and Lukose Vallatharai, Joint Director General of Shipping, before addressing a press conference in Kolkata on Monday.
KOLKATA: Shipping Corporation of India (SCI) will invest about $4 billion in the next five years to acquire 72 vessels as part of its ambitious fleet acquisition plan. "We have already placed orders for 12 vessels, which will cost close to $1 billion, and another order, worth $3 billion, for 60 vessels will be placed in phases,'' SCI Chairman and Managing Director S. Hajara said here on Monday. The 12 ships were scheduled to be delivered between 2008 and 2010, while the additional 60 vessels would be added to the fleet in the next five years, Mr. Hajara said. At present, SCI has a fleet of 79 vessels and a cash surplus of Rs. 2,500 crore to support its acquisition. The current capacity of SCI was 4.8 dwt (deadweight tonnage) and it was expected to increase the capacity to eight dwt once the acquisition was complete. Among the orders for 12 vessels, two are VLCCs (very large crude carrier), two container vessels and six crude carriers. Meanwhile, Mr. Hajara said, the company would continue to focus on the east in consonance with the `Look East Policy'. Commenting on the mega dredging alliance, Mr. Hajara said an international consultant would be appointed in the next three to four months through global tendering to form a public sector joint venture. Kolkata Port Trust, Mumbai Port, Jawaharlal Nehru Port Trust and Cochin Shipyard would be part of the SCI-led alliance, he said. — PTI
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