Qatar Shipping (QShip) said on Wednesday its board had approved the sale of its Qatar Engineering and Construction unit for $110 million.

The sale is to a consortium led by Qatar America Asia Consortium, the company said in a statement on the bourse website, adding the share purchase agreement was to be signed "shortly."    

Qship, which is merging with Qatar Navigation, owns and runs a fleet of vessels operating in sectors including crude oil, petrochemicals and liquefied petroleum gas. - Reuters