July 05, 2008

GE Shipping to invest INR 2,385 crore for more ships

Exim News Service reported that Great Eastern Shipping Company Limited will invest INR 2,385 crore over 3 years to acquire ships which will add about 0.85 million DWT to its tonnage.

Mr KM Sheth chairman of GE Shipping said that it plans to raise the funds by way of 30% equity and the rest from debt.