Chambal Fertilisers & Chemicals has received its board’s approval to sell one of its ships to Liberian company Railto Navigation for $24.5 million. The sale of the ship ‘Ratna Shalini’ is expected to be completed by July 15.
The book value of the ship was Rs 194.04 crore as on March 31, 2017. The buyer does not belong to the promoter/promoter group/group companies and it is not a related-party transaction.
Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India. It has three divisions catering agri products, shipping & textiles.