Tata Power on Tuesday said its Singapore-based subsidiary Trust Energy Resources completed the transaction for the sale of its three ships for $212.76 million (around Rs 1,592 crore).
"Singapore-based Trust Energy Resources Pte Ltd (TERPL), a wholly-owned subsidiary of Tata Power has announced completion of sale of its three ships -- MV Trust Agility, MV Trust Integrity and MV Trust Amity to Oldendorff Carriers GmbH & Co. KG, Germany -- for a consideration of $212.76 million," Tata Power said in a regulatory filing.
TERPL will now cater to the shipping requirements of the company's imported coal-based Coastal Gujarat Power Ltd