Shipping Corporation of India may buy shares of four yards

Four shipbuilding companies have offered stakes to state-owned Shipping Corporation of India’s (SCI) in their shipyard business — Pipavav Shipyard, Bharati Shipyard, ABG Shipyard and Goodearth Shipbuilders. SCI had sought expressions of interest (EoIs) last week. ??“We have received proposals from four companies,” said S Hajara, chairman and managing director, Shipping Corporation of India. SCI plans a backward integration in the shipping business by acquiring a minority stake in a private shipyard. ??It had requested EoIs from companies in the shipyard business to sell a minority stake.