Transport Corporation of India to procure two container vessels for USD 34Mn

Transport Corporation of India Ltd. has finalized an agreement today for the construction of two Cellular Container Vessels, each with an approximate Dead Weight Tonnage (DWT) of 7300 MT. The contract, valued at around USD 34 million, is jointly entered into by the company and a consortium of sellers led by Nakanishi Shipbuilding Co. Ltd., Japan.

 

The key terms and conditions include the vessels being designed, constructed, and commissioned in compliance with the regulations of KR (Korean Register of Shipping) and IR Class (Indian Register of Shipping) that were effective prior to the contract's signing. These vessels will bear the Indian flag and will be registered by the company under Indian laws upon delivery.

 

The total purchase price for both vessels amounts to approximately USD 34 million. The vessels are expected to be delivered to the company, complete with all required certificates and in accordance with the contract specifications, by or before June 30, 2026, unless otherwise mutually agreed upon. This significant procurement marks a strategic move for Transport Corporation of India Ltd. in expanding its maritime assets.

Top stories
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read . 02 Aug 2024 . 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read . 02 Aug 2024 . 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read . 02 Aug 2024 . 12:36 PM

Related Blogs
blog-logo

Share Market

blog-logo

14 mins read . 06 Dec 2024

Stocks Under 1000 Rupees in India

  • 0 people read
blog-logo

Economy

blog-logo

8 mins read . 05 Dec 2024

History of Reliance Group

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions