LOK SABHA
Shipping Corporation
of India Ltd. (SCI) has submitted a proposal to the Government,
for acquisition of 2 nos. Very Large Crude Carriers. As per the
proposal submitted to the Government, the Shipping Corporation
of India Ltd. (SCI) has assumed an indicative price of US $ 70
million per vessel, which would mean a total investment of about
Rs. 679 crores.
The acquisition of
these vessels form part of SCI’s acquisition plan during the first
year of the 10th Five Year Plan, the outlay for which
has been approved by the Planning Commission. Currently, there
are no VLCCs in the Indian fleet and oil companies in India have
to charter in VLCCs from the International market to cater to
their needs. SCI has planned this acquisition with a view to offer
Indian flag vessels to the Indian trade, and expects that the
acquisition would not hamper the disinvestment process currently
going on at SCI. On the other hand, by ordering these vessels
the company will have a healthy order book position, which may
improve valuation of SCI.
This information
was given by Shri Su. Thirunavukkarasar ,Minister of State for
Shipping in a written reply to a question by Shri C. Sreenivasan
in Lok Sabha today.
