Lloyds Metals and Energy has received approval to incorporate a wholly owned subsidiary (WOS) namely ‘Lloyds Global Resources FZCO’ or such other name as may be approved by the respective authority, in Dubai, United Arab Emirates in Dubai Multi Commodities Centre (DMCC). The company shall make the investment at an aggregate consideration of AED 250 million (around Rs 597 crore) to the proposed WOS towards subscription of 100% shareholding in one or more tranches.
The proposed WOS to be incorporated in DMCC, will act as an investment holding and trading company to oversee the strategic investments of the group globally. The Board of Directors of the company in its meeting held on August 12, 2025 inter alia, approved the same.
Lloyds Metals and Energy is into the business of manufacturing of sponge iron, power generation and mining activities.
