Dubai: New Delhi has decided to close the 38-year-old joint venture between the Shipping Corporation of India (SCI) and Islamic Republic of Iran Shipping Lines (IRISL), as the business had been hit by sanctions following Iran’s pursuit of a nuclear programme.
SCI has a 49% holding in Irano Hind Shipping, a company with six ships, of which local media in India report just three are operational, two tankers and a bulker. [03/04/13]
