CCEA approves SCIs acquisition plan, deepening of Paradip channel
November 30th, 2007 - 8:42 pm ICT by adminNew Delhi, Nov 30 (ANI): The Cabinet Committee on Economic Affairs (CCEA) has given its approval to the Shipping Corporation of India (SCI) plan to acquire six Handymax Bulk Carriers of about 57,000 Dead Weight Tonnage (DWT) each at price of 44.90 million dollars.
The acquisition of vessels would allow partly replacement of the ageing Handymax fleet of the company which would be due for scrapping in the near future.
Acquisition of vessels would augment the Indian dry bulk carrier tonnage as also the share of Indian Lines in Indias overseas trade.
Employment of Indian flag vessels for the trade would result in net foreign exchange savings for the country.
The CCEA also gave its approval for revised cost estimates regarding implementation of Deepening of Channel at Paradip Port at a revised estimated cost of Rs.253.359 crore.
The Project is likely to be completed within 60 weeks. (ANI)
- Shipping Corp going slow on new vessel orders - Nov 15, 2011
- Shipping Corporation expects to file DRHP this quarter - Oct 06, 2010
- MV Prabhu Daya enroute to Chennai, missing man rescued - Mar 05, 2012
- Paradip port's new berth faces clearance delay - Apr 17, 2010
- Shipping Corporation to get 30 more vessels by 2015 - Jun 26, 2010
- Shipping Corp, ITI scrips rise on stake sale, quota extension - Oct 06, 2010
- Essar, Paradip Port sign deal for Rs.400-crore coal berth - Nov 10, 2009
- Indian Coast Guard inspects M.V.Prabhu Daya - Mar 06, 2012
- Cabinet approves Rs.322 crore for drug research institute - Jan 20, 2011
- Paradip Port to have deep draught iron ore berth - Jan 02, 2009
- Shipping Corporation adds another vessel to its fleet - Oct 21, 2010
- Revised cost for Tripura power project gets nod - Jan 28, 2011
- Mumbai harbour channel to be deepened, expanded for more traffic - Mar 01, 2012
- Government to pump Rs.1,732 crore into Air India - Aug 04, 2011
- SCI inducts a new oil tanker in its fleet - Oct 05, 2010
Tags: acquisition plan, ageing, bulk carrier, bulk carriers, cabinet committee, ccea, cost estimates, crore, dwt, economic affairs, flag vessels, foreign exchange, indian flag, overseas trade, scis, shipping corporation of india, tonnage