The board of Chambal Fertilisers & Chemicals has given its approval to sell the entire shipping business or dispose off all five ships/vessels owned by the company.

The company needs fund for setting up new ammonia-urea project in Rajasthan.

The Board of Directors in its meeting gave “in-principle consent to the: (i) sale or disposal of one or more or all of the 5 ships/ vessels owned by the company; or (ii) sell, transfer or dispose-off the entire shipping undertaking/business of the company on slump sale basis or some other appropriate structure.”

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