Source: dstnews
MUMBAI: The state-run Shipping Corporation of India (SCI), will spend Rs.3700 crore in the ongoing fiscal to acquire 24 new vessels across categories.
“Our capital expenditure for 2011-12 is Rs 3,700 crore and this will be used for acquiring 24 vessels,” said Mr. S. Hajara, Chairman and Managing Director, SCI.
The 24 ships will be equally spread across categories like bulk carriers, crude carriers, etc, in which, the company operates, he added.
The new ships exclude the 29 ships that are already under construction at various yards and the delivery of which is expected in the next four years as part of our expansion plan, said the source.
The company has also maintained that the expression of interest which it invited from private shipyards for a stake sale has been put on hold.