Shipping Corporation of India, which is in the divestment mode, will file its draft offer document within this quarter. The government has approved a part-divestment and a part additional equity raising in the PSU.

Talking to reporters on the sidelines of a CII meeting, SCI chief S. K. Hajara said timeline would be drawn in consultation with the shipping and the divestment ministries and the funds generated would be part-utilised for SCI's acquisitions. SCI has 28 vessels on order and still around 30 more vessels are to be ordered.

The company also has plans to float an equal joint venture with Coal India Ltd for handling CIL's coal import requirements.

Meanwhile, SCI said in a release that it has accepted delivery of a Large Range-I (LR-I) Product Tanker, “m.t. Swarna Krishna”. The vessel is the 5th of SCI's six LR-I size Product Tankers ordered at STX Shipyard, one of the shipyards of repute in South Korea. Orders for these vessels were placed in October 2006. While, the first two vessels were delivered to SCI during July and August this year, the next two vessels were delivered in September.

The last vessel in the series is expected to be delivered by end-October 2010. With addition of this vessel, SCI's fleet strength has increased to 75.

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