The Indian shipowner will dispose of its 49% holding to the Iranian partner by the end of March and exit the venture. IRISL is also state owned.
SCI chairman and managing director Arun Kumar Gupta confirms that the earlier decision to split assets between the partners has been reversed as IRISL agreed to buy SCI’s entire stake.
Gupta says valuation of the Irano Hind fleet has been completed, although he does not reveal the figure.
TradeWinds,
