India may invite financial bids for SCI sale

11 May 2022 CW Team

India may be reportedly inviting financial bids for the sale of the Shipping Corporation of India (SCI) in September, after the divestment of non-core assets.

This has come after the SCI board had approved a revised demerger scheme that involves hiving off SCI’s non-core assets to Shipping Corporation of India Land and Assets including Shipping House, Mumbai, and MTI (Maritime Training Institute), Powai.

The non-core assets had been valued at Rs. 23.92 billion ($309 million) on 31 March. SCI is one of India's largest shipping companies, holding significant stakes in various segments of the shipping trade and operates around one-third of India’s tonnage as per its website.

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