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6 bid for 51% of govt's stake in SCI

At least six shipping companies including Malaysia International Shipping Corporation and Essar Shipping on Monday put in their initial bids for acquiring 51 per cent government's stake in Shipping Corporation of India.

Others who are believed to be in the fray include Great Eastern Shipping Company Ltd, Videocon, and Shreyas Shipping.

However, Mitsui OSK Lines of Japan said "it was never interested in SCI."

Canada's Teekay Shipping is also believed to have bid for acquiring the government's stake in SCI, which has a fleet of 94 ships, about 40 per cent of India's total shipping fleet by tonnage.

February 18 was the deadline for potential bidders to submit their expressions of interest, sources said, adding the government plans to complete the process by June.

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