Mercator has entered into Memorandum of Agreement with Gemini Marine, Nevis to sell its vessel Harsha Prem for total consideration of $3.42 million. The transaction is expected to be completed by November 15, 2017, subject to necessary approval as may be applicable. The proceeds of sale would be used to repay debts of the company.
Mercator is one of India's largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
