The 38-year-old shipping joint venture had found it difficult to generate business due to an ongoing international sanction on Iran. “It [Irano Hind Shipping] has been dissolved,” Manish Tiwari, minister of information and broadcasting, told reporters on Tuesday.
Established in 1975, Irano Hind Shipping owns and operates four oil tankers and four dry bulk carriers. It is 51% owned by IRISL and 49% owned by SCI. The two companies are likely to split the assets of the company in the ratio of their shareholding.
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