Chambal Fertilisers to disinvest its shipping business on slump sale basis

23 Dec 2015

Chambal Fertilisers & Chemicals has received an approval for sale or disposal of one or more or all of the 5 ships / vessels owned by the company; or sell, transfer or dispose-off the entire shipping undertaking / business of the company on slump sale basis or some other appropriate structure. The proposed transaction(s) will be consummated as and when the company receives commercially viable and acceptable offers from third parties in this regard. The board of directors at their meeting held on December 22, 2015 has approved for the same.

This decision has been taken keeping in view the long term shipping business outlook and the requirement of funds for new Ammonia - Urea Project proposed to be set up by the company at Gadepan, Kota district in state of Rajasthan.

Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India. It has three divisions catering agri products, shipping & textiles.

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