Essar Shipping has received approval from board of directors for disinvestment in Overseas Direct Investments (ODI) and sale of shares of wholly owned subsidiary Companies namely Energy II, Bermuda, Essar Shipping DMCC, Dubai and OGD Services Holdings, Mauritius. Upon completion of said transaction, the said wholly owned subsidiaries will cease to be the subsidiary of the Company. The Board of Directors of the Company at its meeting held on August 16, 2023 have inter-alia; considered and approved the same.
Essar Shipping is a part of Essar Group. The company is in to business of shipping and logistics with a focus on transportation solutions for the global energy business.
