Govt to infuse capital in SCI for fleet expansion via MDF: Sonowal

The government is planning to infuse capital in the Shipping Corporation of India (SCI) for fleet expansion through the Maritime Development Fund (MDF), Union Ports, Shipping and Waterways Minister, Mr Sarbananda Sonowal, has been quoted as saying. As part of this initiative, the Ministry has already floated tenders to acquire four medium-range (MR) product tankers, marking the beginning of SCI’s expansion drive under the new maritime investment framework. The Centre also plans to establish joint ventures between SCI and other central, public sector enterprises, particularly in the oil and dry bulk sectors, to meet India’s growing export-import shipping requirements. 

SCI is a strategic national asset, Mr Sonowal emphasised, pointing out that its importance has grown amid increasing global geopolitical and trade disruptions. Strengthening SCI and India’s fleet capacity is now a national priority, he said, as per a report.

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