India’s Lloyds Metals and Energy Limited has incorporated a step-down subsidiary, Virtus Lloyds Resources FZCO, in the Dubai Multi Commodities Centre (DMCC) Zone, United Arab Emirates, following its recent intimation under regulatory disclosure norms.
Virtus was incorporated on 17 February 2026 and is now classified as a step-down subsidiary of Lloyds Metals. The incorporation reflects the company’s strategic expansion of its investment and trading presence in the metals and mining sector in the UAE.
The move is intended to support Lloyds Metals’ broader business objectives of deepening its footprint in international metals markets and pursuing strategic partnerships with global metals and minerals developers, including in the United States. Expansion through overseas entities like Virtus aligns with the company’s investment and trading strategies in the resources sector.
Established in 1977, Lloyds Metals & Energy Ltd has evolved from a steel manufacturer into a vertically integrated group spanning iron ore mining, DRI manufacturing and steel production.
