SCI to Diversify into Shipbuilding

Reports indicate that the Shipping Corporation of India (SCI) is planning to diversify into shipbuilding in collaboration with existing players both domestic and international. The public sector shipping major plans to either tie up with an international firm or pick up stake in one of the consortia that have shown interest in setting up a new mega shipyard project under the Center’s proposed public-private partnership scheme. SCI had not submitted an expression of interest (EoI) to the Shipping Ministry which had sought EoIs from firms to set up international size shipyards in the Western and Eastern coasts of the country. Those who put in their applications include Bharati Shipyard, Larsen & Toubro, and STX Shipbuilding. However, those firms that have not submitted the EoIs are also allowed to bid for the project as and when the tenders are floated. Source: MoneyControl