The Hindu Business Line : Minister receives SCI dividend

The Union Minister for Shipping, Road Transport and Highways, Mr T.R. Baalu, received an interim dividend cheque of Rs 192.26 crore from the Chairman and Managing Director of Shipping Corporation of India (SCI), Mr S. Hajara, here on Tuesday. The SCI declared an interim dividend of 85 per cent for the year 2006-07. This dividend amount of Rs 192.26 crore reflects the earnings on the 80.12 per cent shareholding, said an official release.

SCI has also initiated an integrated end-to-end IT system implementation with Tata Consultancy Services as partner. The project would be implemented in two phases. During the Phase-I, which is nearing completion, TCS would prepare the IT blueprint and roadmap for SCI. In the Phase-II, the solutions identified in Phase-I would be implemented as per the roadmap and this may be completed in 18-24 months, the release added.

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