SCI to get INR 500 crore to purchase ships, Says Nitin Gadkari
Union shipping and ports minister Nitin Gadkari on July 5 said the government will be giving INR 500 crore to the Shipping Corporation of India to purchase ships in the international market and lease it out domestically.
“We will be giving Rs 500 crore to the SCI under the Sagarmala programme to purchase vessels which are available for cheap due to a slump in international market,” the minister said, speaking at an industry event here.
He also said state-run SCI will lease out the assets to private parties who may have difficulties arranging the capital but can deploy the assets locally for productive uses.
About Shipping Corporation of India :
The Shipping Corporation of India is a Government of India Public Sector Enterprise with its headquarters in Mumbai that operates and manages vessels that services both national and international lines.
SCI to get INR 500 crore to purchase ships < Business News