Government-owned Shipping Corporation may soon finalise consultants for setting up a shipyard through the public private partnership model, sources in the Shipping Ministry said.

Shipping Corporation of India (SCI) is in the process of appointing a consultant for a shipbuilding venture, a shipping ministry official told PTI.

"They (SCI) would finalise the consultant very soon...Which would conduct a detailed study of the project," another shipping ministry official said.
    
The government while transferring Hindustan Shipyard to Ministry of Defence in December, 2009 decided to set up a shipyard on PPP mode.
    
SCI had expressed its interest in participating in this shipbuilding venture.
    
At present, SCI owns 76 ships of 5.1 million DWT (deadweight tonnage) and has interests in all segments of shipping trade. In addition, it mans and manages 60 vessels of 0.2 million tonnes DWT -- which is the total weight of the ship including the cargo, crew and fuel.
    
The company is also gearing up for a follow-on public offer through which the government plans to sell 10 per cent of its stake, while SCI would raise 10 per cent fresh equity.
    
The government currently holds 80.12 per cent stake in the company and the remaining is with the public.

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