Shipping Corp Disinvestment: Former employee wants to make it a global LNG carrier
London|Dubai-based Foresight Group which has shown an interest in Shipping Corp of India (SCI) wants to make a global LNG carrier out of the state-run ship operator, its founder said Thursday.The shipping and oil-drilling company has submitted an expression of interest for the carrier. If it makes it to the subsequent stages it aims to fund the bid via family trust money, its consortium partners and PE funds, Ravi Mehrotra told ET.Mehrotra mentioned the government's aim to increase natural gas consumption in the country as an opportunity for SCI to focus on this segment. Natural gas currently accounts for 6.2% of India's energy consumption and the government aims to increase it to 15%.Foresight is one of several entities including Great Eastern (GE) Shipping, a consortium comprising Prem Watsa's Fairfax and the UAE’s Safe Seas and Anil Agarwal’s Vedanta Group.Foresight has submitted an EOI in consortium with Belgium listed shipping company - Exmar N.V and Dubai-based shipping company GMS DMCC.
Shipping Corp Disinvestment: Former employee wants to make it a global LNG carrier
London|Dubai-based Foresight Group which has shown an interest in Shipping Corp of India (SCI) wants to make a global LNG carrier out of the state-run ship operator, its founder said Thursday.The shipping and oil-drilling company has submitted an expression of interest for the carrier. If it makes it to the subsequent stages it aims to fund the bid via family trust money, its consortium partners and PE funds, Ravi Mehrotra told ET.Mehrotra mentioned the government's aim to increase natural gas consumption in the country as an opportunity for SCI to focus on this segment. Natural gas currently accounts for 6.2% of India's energy consumption and the government aims to increase it to 15%.Foresight is one of several entities including Great Eastern (GE) Shipping, a consortium comprising Prem Watsa's Fairfax and the UAE’s Safe Seas and Anil Agarwal’s Vedanta Group.Foresight has submitted an EOI in consortium with Belgium listed shipping company - Exmar N.V and Dubai-based shipping company GMS DMCC.