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Moneycontrol.com >> Message Board >> View Messages >> SAIL
   You are here :     Moneycontrol     MMB    Stocks      SAIL                         Most active discussions of 2006 , 2007 & 2008
NSE Announcements on SAIL (1)   01-Jul-08 12:53Tracked by (0)  
Posted by:   MMB Messenger on ( 01-Jul-08 12:53 )
Price : [SAIL - BSE:Rs. 140.15 NSE:Rs. 139.75 when posted]
Steel Authority Of India Ltd. has informed the Exchange vide its letter dated June 30, 2008 that : "Steel Authority of India Limited (SAIL) has signed today a Memorandum of Understanding (MOU) with M/s. Shipping Corporation of India Limited (SCI) to promote a Joint Venture Company (JVC) primarily to provide various shipping related services to SAIL for importing coking coal. The JVC may also participate in world wide dry bulk shipping trade. The JVC will own/ operate/ charter ships to offer competitive rates in shipping related business and set up economically feasible coastal transportation of coal from deep draft ports. While, SAIL and SCI each intend to hold 25% of the paid-up share capital of the proposed JVC, the remaining share capital will be held by other strategic partners, who are yet to be identified".
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