MARKETS

BSE Prices delayed by 5 minutes... Prices as on Sep 19, 2018   ABB India 1436.5 [ -0.33% ]ACC 1562.35 [ -0.47% ]Ambuja Cements Ltd. 225.05 [ 0.76% ]Asian Paints Ltd. 1289.35 [ -0.14% ]Axis Bank Ltd. 609.2 [ 0.12% ]Bajaj Auto Ltd. 2795.3 [ 0.70% ]Bank of Baroda 116.3 [ 2.51% ]Bharti Airtel 369.7 [ -1.03% ]Bharat Heavy Ele 74.6 [ 1.22% ]Bharat Petroleum 365.1 [ 2.86% ]Britannia Ind. 5956.3 [ -1.72% ]Cairn India Ltd. 285.4 [ 0.90% ]Cipla 659.45 [ -0.42% ]Coal India 280.55 [ 2.60% ]Colgate Palm. 1117.15 [ -0.04% ]Dabur India 465.75 [ -0.80% ]DLF Ltd. 201.3 [ -0.76% ]Dr. Reddy's Labs 2603.65 [ 0.65% ]GAIL (India) Ltd. 384.25 [ 2.55% ]Grasim Inds. 1067.05 [ -0.01% ]HCL Technologies 1087.35 [ 0.48% ]HDFC 1831.15 [ -1.35% ]HDFC Bank 1961.95 [ -1.58% ]Hero MotoCorp 3142.35 [ 0.99% ]Hindustan Unilever L 1648.9 [ -1.04% ]Hindalco Indus. 235.95 [ 0.73% ]ICICI Bank 320.85 [ 0.67% ]IDFC L 48 [ -2.14% ]Indian Hotels Co 128.5 [ 0.00% ]IndusInd Bank 1804.6 [ -3.05% ]Infosys 720.4 [ 0.17% ]ITC Ltd. 299.65 [ -0.97% ]Jindal St & Pwr 232.6 [ 1.39% ]Kotak Mahindra Bank 1227 [ 0.88% ]L&T 1332.25 [ 0.27% ]Lupin Ltd. 909 [ -2.23% ]Mahi. & Mahi 947.3 [ 0.00% ]Maruti Suzuki India 8207 [ -2.30% ]MTNL 15.65 [ 0.00% ]Nestle India 10152.7 [ -1.24% ]NIIT Ltd. 89.8 [ -1.43% ]NMDC Ltd. 118.05 [ -0.63% ]NTPC 169.1 [ -0.35% ]ONGC 176.65 [ 1.90% ]Punj. NationlBak 79.3 [ 0.00% ]Power Grid Corpo 198.15 [ -0.25% ]Reliance Inds. 1210.3 [ -0.57% ]SBI 271.4 [ -0.95% ]Vedanta 230 [ -0.04% ]Shipping Corpn. 49.7 [ -1.09% ]Sun Pharma. 647.3 [ 0.78% ]Tata Chemicals 739.25 [ -0.05% ]Tata Global Beverage 234.45 [ -0.09% ]Tata Motors Ltd. 252.7 [ 0.50% ]Tata Steel 620.45 [ 1.31% ]Tata Power Co. 75.45 [ 1.34% ]Tata Consultancy 2076.9 [ 0.33% ]Tech Mahindra Ltd. 769.9 [ 1.98% ]UltraTech Cement 4050.3 [ -0.27% ]United Spirits 560.7 [ -1.24% ]Wipro Ltd 332.75 [ 0.08% ]Zee Entertainment En 451.9 [ -2.44% ]

News Details

You can view in detail.
SCI to get Rs 500 cr to purchase ships: Gadkari 06/07/2018 11:46

Union shipping and ports minister Nitin Gadkari said the government will be giving Rs 500 crore to the Shipping Corporation of India to purchase ships in the international market and lease it out domestically, reported PTI.

"We will be giving Rs 500 crore to the SCI under the Sagarmala programme to purchase vessels which are available for cheap due to a slump in international market," the minister said, speaking at an industry event here.

He said state-run SCI will lease out the assets to private parties who may have difficulties arranging the capital but can deploy the assets locally for productive uses.

The ships can be used either for cruise tourism, roll on roll off services which entail ferrying cars through the sea route and also ro-pax where a car carrying passengers is ferried in a boat.

Gadkari said there is a need to shift the road traffic to the seas domestically and we should take advantage of the international situation where assets are available for cheap at present.

He cited the example of a local entrepreneur who bought a boat at throwaway prices and is deploying it on the Mumbai-Goa route for cruise tourism starting from October after refurbishing it.

Gadkari specifically mentioned the financial difficulties hit Greece as a market where vessels can be tapped for cheap.

He said the money will come as a grant and the SCI will not have to worry about the finances and also hinted that the government is willing to cover for the losses which may happen because of the initiative.

Gadkari said it is essential to shift to cleaner fuels like methanol and ethanol which will also serve as a substitute to the imported fuels, and added that state-run Rashtriya Chemicals and Fertilisers is setting up a dedicated facility to produce those at Thal in Maharashtra.

He said on a pilot basis, 10 buses each will be run on the cleaner and cheaper fuels in Guwahati and Mumbai.

Eventually, diesel engines can also be converted into methanol-based ones, he said.

There is also a need for the sea trade to shift to the cleaner fuels, he said, adding that Cochin Shipyard is setting up a facility in the financial capital where such retrofitting will be carried out.

LOAD MORE