Financial Daily from THE HINDU group of publications
Tuesday, Apr 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Apr 20, 2004 |
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Logistics
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Shipping SCI board clears purchase of two LR 1 tankers Our Bureau
New Delhi , April 19 SHIPPING Corporation of India (SCI) has secured board approval to buy two new Long Range 1 (LR 1) tankers of 60,000 dead weight tonnes (dwt) each. At current prices, the acquisition is estimated to cost $64 million, Government sources said. "SCI was accorded board approval during a meeting held on April 15-16 to buy the tankers. The company will submit the acquisition proposal to the Government in a week," they added. SCI has floated global tenders inviting technical offers from shipyards for building the new tankers. Interested yards have been asked to submit their technical offers by the middle of May. SCI will invite commercial price bids from those yards that qualify in the technical round. The new building order would require clearance from the Public Investment Board (PIB) as well as the Cabinet Committee on Economic Affairs (CCEA).
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