Shipping Corp. to invest $4 b

Shipping Corporation of India (SCI) will invest about $4 billion in the next five years to acquire 72 vessels as part of its ambitious fleet acquisition plan.

‘We have already placed orders for 12 vessels, which will cost close to $1 billion, and another order, worth $3 billion, for 60 vessels will be placed in phases,’ SCI Chairman and Managing Director S. Hajara said here on Monday.