Sical Logistics buys Sical PortoFino
Sical Logistics Ltd has acquired a cutter suction dredger named Sical PortoFino for $24.92 million.
By INDIATIMES NEWS NETWORK |
MUMBAI: Sical Logistics Ltd has acquired a cutter suction dredger named Sical PortoFino for $24.92 million.
The acquisition was funded by company's foreign currency convertible bonds issue in 2006 and is estimated to earn revenue of $9.8 million annually. The company plans to acquire more of cutter suction and trailer suction hopper dredgers.
The dredger will be deployed in the Chinese market. It can dredge up to a depth of 25 meters and has a production capacity of 3000 cubic meter per hour.
At 11:33 AM, Sical Logistics share was at Rs 231.55, down 4.20% or Rs 10.15 on the BSE from its previous close.
The acquisition was funded by company's foreign currency convertible bonds issue in 2006 and is estimated to earn revenue of $9.8 million annually. The company plans to acquire more of cutter suction and trailer suction hopper dredgers.
The dredger will be deployed in the Chinese market. It can dredge up to a depth of 25 meters and has a production capacity of 3000 cubic meter per hour.
At 11:33 AM, Sical Logistics share was at Rs 231.55, down 4.20% or Rs 10.15 on the BSE from its previous close.
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