SCI to Invest $20bn in Port Expansion

4 October 2010 (Last Updated October 4th, 2010 18:30)

The Shipping Corporation of India (SCI) may invest $20.8bn in 276 port projects under capacity expansion plans. The state-owned company will invite bids for 22 projects worth INR160bn ($3.5bn), which are planned to be implemented in a public-private partnership. The corporation ha

The Shipping Corporation of India (SCI) may invest $20.8bn in 276 port projects under capacity expansion plans.

The state-owned company will invite bids for 22 projects worth INR160bn ($3.5bn), which are planned to be implemented in a public-private partnership.

The corporation has completed 24 projects at a cost of INR65bn ($1.4bn), while 19 projects of INR125bn ($2.8bn) are being carried out.

The firm aims to have a 5% share of the global shipbuilding market by 2017, up from the current 1%, according to economictimes.com.