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Shipping Corporation of India pays dividend cheque of Rs.192.26 Crore to Government
Posted On : 2007-04-18 20:33:48( TIMEZONE : IST )
The Union Minister for Shipping, Road Transport & Highways Thiru T.R.Baalu, received an interim dividend cheque of Rs. 192,26,33,955/- (Rs. 192.26 crore) from the Chairman & Managing Director of Shipping Corporation of India (SCI), Shri S. Hajara, here today. Shri A.K.Mohapatra, Secretary (Shipping), was also present on the occasion.
The Shipping Corporation of India (SCI) declared an Interim Dividend of 85% for the year 2006-07. This dividend amount of Rs.192.26 crore, reflects the earnings on the 80.12% shareholding of the Government of India in the SCI. It may be recalled that the SCI has declared a net profit of Rs. 729.93 crore for the nine months ending on 31.12.2006, during the financial year 2006-07.
The Shipping Corporation of India, is the largest shipping company in India and has a share of about 35% of the total Indian tonnage.
SCI is the first Indian shipping company to enter the LNG transportation business as partner in a joint venture, comprising of SCI, Mitsui OSK Lines, NYK Line and K-Line. This consortium is already operating 2 LNG tankers, which carries LNG for Petronet for its Dahej project. This consortium has successfully bid and won the tender for construction, ownership and 25 years of operation of the 3rd LNG tanker required by Petronet LNG Limited for its expansion project at Dahej. SCI has also formed a joint venture company with Forbes Gokak Ltd. & Sterling Investment Corporation Pvt. Ltd. for owning and operation of chemical carriers. This JVC has placed already orders for 4 nos. Chemical Carriers of about 13,000 dwt each.
SCI has also initiated an Integrated End-to-End IT system and M/s Tata Consultancy Services (TCS) was selected as IT partner for the same. The project would be implemented in two phases. During the Phase-I, TCS would study the IT requirements of SCI and prepare the IT blueprint and roadmap for implementation, which would be completed in 4 months, which is nearing completion. In the Phase-II, which is the implementation phase, the solutions identified in phase I would be implemented as per the roadmap and this is expected to be completed in 18 to 24 months. SCI has also implemented a company-wide quality management system based on the international standards ISO 9001:2000. As a part of the implementation, the Company has conducted the internal audit, pre-assessment audit and final certification audit.
