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September 06, 2008


SCI floats 4 JVs for shipbuilding, dredging and offshore services

It is reported that Shipping Corporation of India has floated 4 JV companies for its proposed foray into shipbuilding, container terminal operation, dredging and offshore services and is in final talks with South Korean Hyundai Heavy Industries for its shipbuilding JV.

It has signed up with Mediterranean Shipping Company, along with 2 other public sector majors namely Container Corporation of India and Central Warehousing Corporation, for setting up container terminals. Though the consortium is yet to be formed, the three PSUs will jointly hold 50% stake, while the remaining will be held by Mediterranean Shipping Company and group companies.