Varun Shipping to invest Rs 2000 cr for fleet expansion

Mumbai, Nov 28 (UNI) Varun Shipping proposes to invest around Rs 2000 crore for the expansion of its fleet.

As part of the plan, the shipping company has entered into a Memorandum of Agreement (MoA) for acquiring a third modern double-hull 2006-built Aframax crude oil tanker.

The vessel is scheduled to be delivered in January 2007. With acquisition of this vessel, Varun will own a fleet of eighteen vessels, a company press release here today said.

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