Foresight Group eyeing Shipping Corporation of India for its LNG business
In a bid to help strengthen the country’s gas infrastructure, London-based shipping firm Foresight Group is eyeing Shipping Corporation of India (SCI), to make it a leading liquefied natural gas (LNG) carrier in the world.
“With India having set target to increase its gas contribution in the energy basket, we see SCI playing a major role due to its strong presence in the tanker segment. It is this segment where we see strong business potential,” Ravi Kumar Mehrotra, founder, promoter and executive chairman at Foresight Group International Limited told Business Standard.
Foresight Group, in a consortium with Belgium-based Exmar NV and Dubai-based GMS, is one of the preliminary bidders for the national carrier as the government is looking to privatise SCI by selling 63.75 percent stake in the latter.
