September 15,
Shipping Corporation of India (SCI) may form a joint venture with Coal India (CIL) for coal imports.
Mr S Hajra CMD of SCI said “We are interested in having a JV with Coal India. The matter is under discussion, we have exchanged some notes.”
Talking about the equity structure of the proposed JV, Mr Hajra said that “Most likely it will be like the SAIL model, where we have got a 50:50 JV.”
A senior official of CIL said that the JV, which is expected to be formed by the end of this fiscal, would ensure supply logistics and delivery of imported coal from the source of import to consumers.
The joint venture is likely to be managed by the Shipping Corporation, as it has the domain expertise in the field and will also be allowed to make the most of the increasing opportunity to ship imported coal to India.
SCI has also recently reached a joint venture agreement with the country’s largest steel maker, SAIL, for the import of coking coal and is holding discussions with ONGC for offshore activities.
Leave a Reply