G E Shipping plans to invest $1.2 bn till 2012

Mumbai: Shipping firm, the Great Eastern Shipping Co, has decided to invest $1.2-billion during the next three years for expansion.

The company will acquire 8 ships, which include 6 bulk carriers and 2 oil tankers, along with 13 offshore supply boats and an oil drilling rig. These projects will be financed partly through internal accruals and partly through borrowings.