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Mitsui O.S.K. Lines, soon to be a prized catch for GIFT City, in talks to build tanker at L&T yard
Mitsui O.S.K. Lines, Ltd (MOL), the Japanese transport giant and the world’s third largest ship owner by fleet size, will likely open a unit in the Gujarat International Finance Tec-City (GIFT City) for leasing and owning ships and has separately opened talks with Larsen & Toubro Ltd (L&T) to build an oil tanker at its Kattupalli yard near Chennai under the ‘Make in India’ program, multiple sources said.
The GIFT City is India’s first International Financial Services Centre (IFSC) under the Special Economic Zone Act – a tax-free offshore enclave within India that seeks to onshore India focused business carried out in other parts of the globe.
MOL’s plan is to open a new entity in GIFT City and use it to lease or build vessels in India under the ‘Make in India’ initiative.
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