Clarifies on News Item

| Updated on October 07, 2014 Published on October 07, 2014

With reference to the news item appearing in a leading Newspaper titled "Shipping Corp, GAIL may buy LNG import carriers for $3 bn", Shipping Corporation of India Ltd has Clarified to BSE as under:

"Reference is drawn to the Corporate Announcement made by SCI on June 07, 2013 whereby it was informed that GAIL (India) Limited and the Shipping of Corporation India Ltd (SCI) had signed a Memorandum of Understanding (MOU) to cooperate for transportation of LNG sourced by GAIL from USA.

It may be noted that the said parties have signed an MoU for working together on the tendering process for the shipping requirement of GAIL’s LNG import from USA. It is expected that about 9 to 11 LNG tankers would be required for this purpose. SCI has the option to exercise step in rights to participate in the shipping venture with up to 26% share.

SCI will keep the exchange informed about material development, if any, in this regard".

Source : BSE - >www.bseindia.com

Published on October 07, 2014
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