The minister said in a written reply in the Rajya Sabha that SCI has already entered into a joint venture with Mitsui OSK.Nron for transportation of LNG for Dabhol Power project.

He said Indian private shipping companies have also entered into similar arrangements with foreign companies.

Indian shipping companies are joining hands with foreign companies as none of them either own LNG tankers or have experience in handling LNG transportation, Yadav said.

Other cases taken up by the Rajya Sabha, included a report submitted by the executive board of the International Monetary Fund (IMF) which emphasised on the need for rapid deregulation of domestic industrial and agricultural sectors in order to benefit from the growing globalisation of goods and capital markets, minister of state for finance Balasaheb Vikhe Patil said.

The IMF board, at its recent meeting to discuss the consultation report on India also felt that the favourable economic environment presented the authorities with the unique opportunity to press ahead with reforms in key areas, he said. (PTI) The upper house also took up the isue of foreign direct investment (FDI) flow into India since the economy was liberalised in 1991. According to figures submitted before the upper house FDI inflows stood at Rs 79,175 crore, Patil said.

He said the maximum FDI has come into sectors like transportation, electrical equipments, fuels and chemicals.