Revenue and employment generated by shipping corporation of India

The details of revenue generation and employments of the Shipping Corporation of India (SCI) for the financial year 2016-17 to 2020-21, year-wise;

Crores-

• Particulars          Total Revenue        PAT
• 2016-17               3,592.60                   142.3
• 2017-18               3,617.50                   253.8
• 2018-19               4,105.20                   (122.0)
• 2019-20               4,668.39                   302.4
• 2020-21               Rs.3828.81               618.10

CCEA in its meeting held on 20.11.2019 accorded ‘in-principle’ approval for strategic disinvestment of Government of India’s shareholding of 63.75% in Shipping Corporation of India Ltd. (SCIL) along-with transfer of management to a strategic buyer.

Preliminary Information Memorandum (PIM) / Expression of Interest (EOI) was floated on 22.12.2020 for strategic divestment of entire 100% shareholding of Government of India (“GOI”) equity stake of 63.75% in Shipping Corporation of India Limited (“SCIL”).

Multiple EoIs were received by the last date and time of submission of EoIs. Shortlisting of eligible bidders were done by Transaction Advisor appointed through a transparent confidential process. Virtual Data Room (VDR) access to the Qualified Interested Bidders (QIBs) has been provided and the process of due diligence started.

Request for Proposal (RFP), Confidential Information Memorandum (CIM) along-with draft SPA were shared with QIBs inviting comments on draft Share Purchase Agreement (SPA).

This information was given by Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal in a written reply in Rajya Sabha today.