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Our Bureau

Mumbai , Dec.21

SKS (Ship) Ltd, a leading player in Indian coastal shipping segment, took delivery of the first of the four multi-purpose coastal vessels that it is acquiring as part of its expansion programme.

The 3,500 DWT vessel, Royal Sutlej, which is the 33rd vessel in the company's fleet, was built at the Chowgule's shipyard at Goa.

According to Mr S.K. Shahi, Chairman, the three remaining ships are expected to join the fleet by August 2005. The company is implementing the Rs 200-crore expansion programme to cash in on the booming freight market. It has already got the nod from its bankers to raise up to Rs 150 crore to fund this expansion programme.

He said the company is actively scouting for an international partner to float a separate joint venture shipping company. "We are in the initial stages of discussions with a few foreign companies," he pointed out.

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