Shipping ministry backs divestment in Cochin Shipyard

September 18th, 2009 NEW DELHI - The Communist Party of India-Marxist (CPI-M) Friday hit out at the shipping ministry's move to offload government stake in the Cochin shipyard, and said it will raise the issue in the shipping consultative committee of parliament. "I have conveyed my displeasure to Shipping Minister G.K.

August 17th, 2009 NEW DELHI - It's an old warhorse, 50 years old to be exact. But after a life-extending refit, India's lone aircraft carrier INS Viraat is back to show it still has enough steam to give the jitters to the enemy.

July 14th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Tuesday said the United Progressive Alliance (UPA) government remained committed to divesting stakes in the state-run companies, but without diluting their public sector character. Replying to the debate on the national budget in the Lok Sabha, the lower house of parliament, the finance minister said there was some disappointment that not enough was said on the government's divestment policy in his July 6 budget speech.

July 7th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Tuesday said the national budget was not the document to spell out micro policy details and the United Progressive Alliance (UPA) government remained committed to divestment in state-run firms without diluting their public sector character. "I have made it very clear that we intend to include the public in disinvestment programmes," Mukherjee told an interactive meeting with India Inc, a day after presenting the national budget for the current fiscal.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday revived the government's divestment programme, promising equity of state-run enterprises in the hands of general public. He also said that in areas like banking and insurance, specifically, the majority control in state-run companies would remain in the hands of the government with fresh infusion of equity to help them remain globally competitive.

July 2nd, 2009 NEW DELHI - The Economic Survey the government presented in parliament Thursday called for revitalising the divestment policy so as to generate at least Rs.25,000 crore (Rs.250 billion/$5.22 billion) annually. List all unlisted public sector enterprises and sell a minimum of 10 percent of equity to the public, the survey stated.

July 1st, 2009 NEW DELHI - Union Minister of Shipping G. K. Vasan officially released the 100 days agenda for the Ministry of Shipping here today.

July 1st, 2009 NEW DELHI - The Government on Wednesday said it would award six shipping projects worth 3,319.14 crore rupees in next 100 days. These would be developed on the public-private-partnership (PPP) mode.

July 1st, 2009 NEW DELHI - More public-private partnership (PPP) projects for building ports, revised guidelines for port operations, and speedier acquisition of ships and equipment are some of the targets set by the shipping ministry in its 100-day agenda unveiled Wednesday. Five more PPP projects are likely to be awarded, including coal terminals at Paradip and Mormugao ports and container terminals at Ennore and Tuticorin, according to the agenda released by Shipping Minister G.K.

June 27th, 2009 CHENNAI - The shipping ministry, in its 100-day plan to be announced shortly, will address the issues dogging projects being promoted in public-private-partnership (PPP), Shipping Minister G.K. Vasan said here Saturday.

June 26th, 2009 NEW DELHI - After road transport ministry, it is now the turn of the shipping ministry to demand a separate financing arm. "The ministry has submitted a proposal to the finance ministry to form a Shipping Finance Corp," said a ministry official.

April 4th, 2009 KOCHI - The Cochin Port handled 15.23 million tonnes of cargo in 2008-09 as against 15.75 million tonnes the year ago - a fall of 3.34 percent, it was announced Saturday. The fall in cargo handling is mainly because of a drop in the uptake of crude oil by Kochi Refinery, which imported 8.21 million tonnes of crude last fiscal as against 8.75 million tonnes in 2007-08, the port said in a statement.

February 24th, 2009 NEW DELHI - As Russia continues escalating the price for the aircraft carrier Admiral Gorshkov much to the chagrin of the defence establishment here, India is all set for the keel laying of its first indigenous carrier for which Rs.3,260 crore (Rs.32.60 billion/$654 million) has initially been allocated. The keel will be laid at the Cochin Shipyard Feb 28.

February 9th, 2009 KOLKATA - The shipping ministry is preparing a document on the financial requirements of the industry, which will be submitted to the finance ministry next month, a top official said here Tuesday. 'Call it a growth package.

January 1st, 2009 KOCHI - Cochin Shipyard Ltd (CSL), India's largest ship building yard, has successfully converted a Singaporean fishing vessel into a seismic survey vessel, the company said here Friday. Seismic vessels are used for offshore surveys and provides an image of the seabed and its geological structure.