Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Projects will have a nearly
70:30 debt-equity component, indicating that majority of the project will be
funded through loans or borrowings. The Ministry’s exposure could be limited to
a maximum of 15 per cent of the project cost or SPV, an official aware of the
discussions said.
Owning oil tankers hedge Indian oil supplies from geopolitical headwinds
and probable sanctions apart from reducing ship chartering bills, an outgo to
the exchequer.
The first such special
entity could materialise over the next 6-9 months, the person said, adding that
the Shipping Corporation of India (SCI) – a CPSE of the Ministry – would be
roped in as one of the key investors or stakeholders in the project.
The SCI recently signed an MoU and a non-disclosure agreement (NDA) with
BPCL to explore “strategic alliance in the shipping sector”. This includes
developing “comprehensive roadmap, structure, and operating model for the
proposed strategic alliance or entity”. “At the most the Ministry will take up 49 per
cent of the equity contribution in the SPV, which works out to be a maximum of
15 per cent of the total project cost at the most. But that too will be decided
basis the project specifics,” the official said.
Nearly a year after the idea was mooted, the Ministry’s internal survey
indicate that there could be requirement for nearly 100 such oil tankers across
categories such as Panamaxes,
Suezmaxes, ultra large crude carriers, very large crude carriers and others;
and project cost – spread across 5-10 years for these 100 ships – could be
around ₹25,000–30,000 crore range. India does not manufacture oil tankers at
the moment and nearly all its requirement are met through imports. The import bill runs into nearly $100
billion, and it includes ship chartering services. Insurance payouts and
According to the official,
the SPVs would look to secure funding primarily form financial institutions and
international funds, international VCs, sovereign funds, and also through PEs.
This would account for “at the most” 70 per cent of the project cost. The remaining equity could come from OMCs,
the dockyards, SCI including the Ministry pitching-in where required.
