SCI fails to take advantage of MOUs with several state-run companies

12 Jun 2013

Shipping Corporation of India (SCI), which signed Memorandum of Understandings (MoUs) with several state-run companies such as Coal India, ONGC, SAIL and Gail India, is unable to take advantage of the pacts as its financials continue to be under stress. Further, the company is yet to form joint ventures with Coal India and Oil and Natural Gas Corporation which could have offered the firm with assured cargo and revenues.

As per the joint venture agreement with SAIL, the company has not acquired vessels yet for operation. The company’s talks with National Thermal Power Corporation to transport cargo also did not yield results.

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SEBI Registered: Investment Adviser - INA000013323