Shipping Corporation of India (SCI) is reportedly planning to place a $502.9 million contract with Korean shipbuilding yards, according to a report from the Business Standard. SCI has already signed contracts with South Korean yard STX Shipbuilding for building six new long range-I size product tankers for $371 million. SCI is likely to place orders with Korean shipbuilding yard Hyudai Heavy Industries for two container vessels of about 4,300 TEU capacity each, at a price of $65.95 million per vessel, sources said. The contract for container vessels is expected to be signed within two weeks, and the vessels would be delivered by the end of 2008. These vessels will be deployed on SCI`s India-UK service, sources added.