SCI Plans Investment to Double Cargo Capacity

15 September 2010 (Last Updated September 15th, 2010 18:30)

Shipping Corporation of India (SCI) is planning to invest $4bn over the next four years to increase its cargo-carrying capacity. SCI said it is looking to double its tonnage capacity from five million dwt to ten million dwt, according to PTI. The state-owned shipping company also

Shipping Corporation of India (SCI) is planning to invest $4bn over the next four years to increase its cargo-carrying capacity.

SCI said it is looking to double its tonnage capacity from five million dwt to ten million dwt, according to PTI.

The state-owned shipping company also announced a follow-on public offer as part of its stake divestment plan and is planning to use the proceeds to fund its proposed expansion.