Sabyasachi Hajara, the man who heads India''s largest shipping company, the Shipping Corporation of India, has big plans on his radar and he is looking at acquisitions and joint ventures to fuel growth. SCI''s aggressive diversification plans will require expansion of fleet as it is all set to enter untapped territory like shipbuilding, container terminal operations, dredging and offshore businesses.
SCI is investing over $4 billion over the next five years for acquiring 72 new vessels. The company will also be investing over Rs 18,000 crore in all its new ventures and by 2011-12 its total fleet size would be over 100 vessels. Hajara believes the returns are likely to be delayed as the projects will only be operational by 2011-12.
SCI plans to set up two greenfield shipyards one each on the east and the west coast with one of them could possibly be with a Korean shipbuilding major. For container terminal operation, it has joined hands with MSC, Concor and CWC. While for Offshore business it has entered into joint venture with ONGC. On dredging front, SCI is working with JNPT, Mumbai Port Trust (MbPT) and Cochin Shipyard. Hajara is working full time to transform the largest shipping company into largest maritime company. With over 72 new vessels and its foray in shipbuilding, dredging and off shore business, Hajara promises good times for its shareholders in future.
SCI is investing over $4 billion over the next five years for acquiring 72 new vessels. The company will also be investing over Rs 18,000 crore in all its new ventures and by 2011-12 its total fleet size would be over 100 vessels. Hajara believes the returns are likely to be delayed as the projects will only be operational by 2011-12.
SCI plans to set up two greenfield shipyards one each on the east and the west coast with one of them could possibly be with a Korean shipbuilding major. For container terminal operation, it has joined hands with MSC, Concor and CWC. While for Offshore business it has entered into joint venture with ONGC. On dredging front, SCI is working with JNPT, Mumbai Port Trust (MbPT) and Cochin Shipyard. Hajara is working full time to transform the largest shipping company into largest maritime company. With over 72 new vessels and its foray in shipbuilding, dredging and off shore business, Hajara promises good times for its shareholders in future.
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