The Telegraph
 
 
IN TODAY'S PAPER
CITY NEWSLINES
 
 
ARCHIVES
Since 1st March, 1999
 
THE TELEGRAPH
 
 
Email This PagePrint This Page
SCI to sell stake in gas venture

New Delhi, Dec. 8 (PTI): The shipping ministry is believed to have agreed to the proposal of Japanese shipping line Mitsui OSK to buy Shipping Corporation of India’s 20 per cent stake in troubled LNG transportation venture Greenfield Holding Co Ltd (GHCL).

“The SCI board had recommended the proposal of Mitsui to pay $ 11 million—the sum invested by SCI in the venture—plus interest of about 9 per cent for acquiring the 20 per cent stake held by the Indian line, to the government for its consideration. The proposal has been initiated,” sources said.

Sources said the shipping ministry has given its concurrence to the proposal, which would now be taken to the Cabinet Committee on Economic Affairs (CCEA) for final approval.

Top
Email This PagePrint This Page