RCF'S SHIPPING JV WITH SCI OKAYED

Article Abstract:

Rashtriya Chemicals and Fertilizers (RCF) has received the approval of the Ministry of Surface Transport (MoST) to float a joint venture with Shipping Corporation of India (SCI). The new shipping venture will transport urea to India from Oman. The urea will be produced by Oman India Fertilizer project which is co- promoted by RCF, Kribhco and Oman Oil Corporation. The new venture will acquire a Rs125 crore dry bulk carrier in the range of 30,000 dead weight tonnage (dwt) to 40,000 dwt. (ag)

Comment:

Gets approval to float joint venture with Rashtriya Chemicals & Fertilizers to transport urea to India from Oman

Joint ventures, Chemical & Other Tankers, Tankers (Ships), Rashtriya Chemicals and Fertilizers Ltd., Shipping Corporation of India Ltd.

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SHIPPING: HIGH AND DRY

Article Abstract:

The recent rejection by the finance ministry to allow higher depreciation for the shipping industry is expected to augment freight bill considerably, estimated to touch Rs55,000 crore in three years' time. At present, the rate of depreciation allowed for ships is 20 percent compared to 40 percent allowed for aircraft and commercial vehicles. The ministry has also rejected more flexible ECB norms like quicker maturity periods and higher loan limits for the industry. (gsh)

Comment:

India: Recjection of higher depreciation for shipping industry is expected to augment freight bill considerably

Government regulation, Deep Sea Foreign Transport, Marine transportation

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$200 M FDIs OKAYED, GE-SBI PLANS GET NOD

Article Abstract:

The Foreign Investment Promotion Board (FIPB) has given clearance for about $200 million of foreign direct investments (FDIs). These investments also include two proposed joint ventures between GE Capitals and State Bank of India. FIPB has cleared a significant number of joint ventures in auto ancillary segment. It has approved investments worth of about Rs75 crore. (gs)

Comment:

India: Foreign Investment Promotion Board gives clearance for about $200 mil of foreign direct investments

Administration of General Economic Programs, International economic relations, Regulation of Dom Invest by Foreign, Foreign investment laws

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