Joint Venture22 May 2025, 08:41 pm
Seamec Ltd Subsidiary Incorporates Joint Venture Company in GIFT City, India
AI Summary
SEAMEC INTERNATONAL FZE ('SIFZE'), a wholly owned subsidiary of Seamec Ltd, has incorporated a Joint Venture Company ('SEARETE') in GIFT City, India along with ARETE SHIPPING DMCC, UAE. The provisional letter of registration from the International Financial Service Centre Authority (IFSCA)/ Unit Approval Committee has been received on May 22, 2025. SEARETE is primarily incorporated for Buying, Leasing and Sale of the Vessel(s) and undertaking ship owning and leasing activities by way of Bareboat charter hire to the customers incorporated in GIFT City.
Key Highlights
- Seamec Ltd subsidiary, SEAMEC INTERNATONAL FZE ('SIFZE'), has incorporated a Joint Venture Company ('SEARETE') in GIFT City, India
- SEARETE is incorporated primarily for Buying, Leasing and Sale of the Vessel(s) and undertaking ship owning and leasing activities
- SEARETE is a 50:50 joint venture between SIFZE and M/s Arete Shipping DMCC
- SEARETE has received the provisional letter of registration from the IFSCA/ Unit Approval Committee on May 22, 2025
- SEARETE will commence operations upon receipt of approval from IFSCA/ SEZ Authority