GVK Power signs MoU with Govt of Tamil Nadu to set up SEZ

GVK Power & Infrastructure Ltd has announced that the Company has signed Memorandum of Understanding (MoU) with State Government of Tamil Nadu to jointly develop a multi product Special Economic Zone (SEZ) in Perambalur District. The MoU was signed in the presence of Dr. M Karunanidhi, Chief Minister, by Mr. G V Krishna Reddy, CMD of the Company and Mr. S Ramasundaram, Chairman, Tamil Nadu Industrial Development Corporation Ltd (TIDCO).

The project is being implemented as a Joint Venture between TIDCO and the Company through a Special Purpose Vehicle. GVK Infratech Pvt Ltd, a wholly owned subsidiary of the Company.

The stock was trading at Rs.489.65, up by Rs.7.80 or 1.62%. The stock hit an intraday high of Rs.505.90 and low of Rs.477. The total traded quantity was 50903 compared to 2 week average of 85789.

Source : Equity Bulls

Keywords