Business Daily from THE HINDU group of publications
Thursday, July 24, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Thursday, July 24, 2008 ePaper | Mobile/PDA Version |
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Update at 1730 hrs (IST)
Logistics Govt approves acquisition of vessels worth $240 m NEW DELHI: The Government on Thursday approved acquisition of our vessels at a total cost of about $240 million for Shipping Corp of India. The Cabinet Committee on Economic Affairs today gave its approval to purchase the four vessels of capacity 80,000 DWT each, the official spokesperson said. The state-owned company would avail external borrowing of up to 80 per cent from banks either from international market or the domestic market while the rest of it would be arranged through internal accruals. “Acquisition of the proposed vessels would augment the Indian dry bulk carrier tonnage as also the share of Indian lines in India's overseas trade,” the official added. - PTI
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