Swan Energy (SEL) has paid subscription money on February 1, 2023, aggregating to AED 35,000 (equivalent to Rs 7,83,213) to subscribe for 35 shares of AED 1,000 each of ‘Wilson Corporation FZE’ (WCF), incorporated at Hamriyah Free Zone - Sharjah, UAE.
Consequently, WCF has become a wholly-owned subsidiary company (WOS) of the company with effect from February 1, 2023. SEL is already in business of trading of petrochemical products & others. Incorporation of WOS at UAE would help the Company to expand its footprint in middle east countries.
Swan Energy is an emerging green energy company with a successful track record in infrastructure projects and textiles too.