STOCK MARKET BSE NSE

SCI to Scout for Second-hand LNG Carriers: Gadkari

Gadkari said he has asked state-run Shipping Corporation of India to scout for used LNG ships in the international market.

Published: 03rd June 2015 07:39 PM  |   Last Updated: 03rd June 2015 07:39 PM   |  A+A-

By PTI

MUMBAI: Union Shipping Minister Nitin Gadkari today said he has asked state-run Shipping Corporation of India to scout for used LNG ships in the international market, which will help in transportation of the fuel till the country starts building such vessels indigenously.

"I have given orders to SCI to find second hand ships. For the transport of LNG, we can give services to them (SCI)," Gadkari told reporters here.

Gadkari said that the state-run Cochin Shipyard has entered into a joint venture with South Korean company Samsung for getting the technological know-how for manufacturing the very large LNG carriers. However, manufacturing such a vessel indigenously will take around 5-6 years, he added.

He said the contract with SCI for deploying the used Liquefied Natural Gas carriers can be done for 6-7 years till the time the locally-made vessels come up and added that he will be talking to Petroleum Ministry.

Gadkari said a decision on the same will be taken at the "highest level", after a meeting between the Prime Minister, Petroleum Minister and himself, but stressed that he is all for the "Make in India" programme.

It can be noted that Gas Authority of India (GAIL) had floated a tender to acquire nine such ships at an estimated Rs 15,000 crore. In last few months, especially after launch of the Government's 'Make in India' initiative, calls for building some of these nine vessels locally, have been rising.

In order to make this possible, some bankers had demanded a Ship Building Fund, but there was no such announcement in the budget.

When asked about financing, Gadkari today claimed it is not a worry.

"Finance is not a problem. When I am speaking, there is no financial problem. I am not dependent on any finance ministry, we know how to raise finance," he said.

Gadkari today said that the government is keen to build five new ports, but declined to give details on the award of private port projects this fiscal.

Additionally, it will be soon starting multi-modal hubs in identified cities along the river Ganga and has also identified five more rivers for development of inland waterways including Brahmaputra, Mahanadi and Buckingham Canal.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp