The government today gave its approval to the plan of Shipping Corporation of India (SCI) to invest $20.88 million for taking 33.77% stake in a joint venture company to be set up in Panama.The joint venture will be for the Dahej expansion project of Petronet LNG, Information and Broadcasting Minister Priyaranjan Dasmunsi said after a cabinet meeting today.Other partners in the joint venture are Mitsui OSK Lines of Japan with a stake of 33.77%, Nippon Yusem Kabushiki Kaisha with a share of 21.64% and Kawasaki Kisen Kaisha with 10.82%.The share of SCI in the JV may go down to 26% if Petronet LNG or its nominee exercises the option to take up 23% share in the above JV, the minister said.
