3 Tata ships sell for Rs 1,600 crore

The Tata Group has agreed to sell three ships to Germany’s Oldendorff Carriers for $213 million (Rs 1,600 crore) as part of its debt-reduction plan. The three merchant ships were bought by the conglomerate through Trust Energy Resources, a company based in Singapore, to transport coal from international markets to India. The group uses imported coal for power station.

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