...clears Rs 2,868-cr vessel buy

New Delhi, Nov 17 | Updated: Nov 18 2005, 05:39am hrs
The ministry of shipping said on Thursday that it has cleared the shipping corporation of Indias proposal to acquire 16 new vessels worth Rs 2,868 crore and sought approval of the planning commission to buy ten new ships worth Rs 2,341 crore.

Decks have been cleared for acquiring 16 vessels and the government has earmarked Rs 2,868 crore for this purpose, joint secretary (shipping) Susheel Kumar told reporters on the sidelines of the Economic Editors Conference here.

Elaborating on the acquisition plan, he said the ministry had given the go-ahead to the PSU to buy two cape-size bulk carriers worth Rs 550 crore. Besides, the SCI has also been permitted to acquire six handmax carriers at Rs 818 crore, two container vessels priced at Rs 528 crore and six other carriers at Rs 972 crore, Mr Kumar said.

He pointed out that block approval has been granted to the SCI for Rs 2,341 crore, he said. The state-owned shipping giant has a fleet of 84 vessels aggregating to about 2.7 million gt comprising general cargo vessels, cellular container vessels, crude oil tankers, product tankers, bulk carriers and offshore supply vessels.