SCI Floats JVs To Foray Into New Ventures

RTTNews reported that Shipping Corporation of India has floated four joint venture companies for its proposed foray into shipbuilding, container terminal operation, dredging and offshore services.

The government-owned ship owner is in final negotiations with South Korean Hyundai Heavy Industries for the shipbuilding JV. The company has also inked with Mediterranean Shipping Company - MSC - along with two other public sector majors, namely, Container Corporation of India - Concor - and Central Warehousing Corporation - CWC - to set up container terminals. SCI disclosed that it has short listed three companies for the venture, in which Hyundai is one among them. SCI has already evinced interest in building two mega shipyards proposed by the government. After negotiations with the foreign partner, SCI will submit the consortium proposal to the government for approval, said sources.