Varun Shipping signs MOA for acquiring Aframax Carrier

New Delhi, Nov 28 (UNI) Varun Shipping Company Ltd today entered into a memorandum of agreement (MOA) for acquiring its third modern double hull 2006 built Aframax crude oil tanker.

The acquisition of this vessel forms part of the company's plan to invest up to Rs 2,000 crore for expansion of its fleet.

The vessel is scheduled to be delivered in January next year.

With this the company will own a fleet of eighteen vessels.

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