Ispat Industries enters into MOU with Government of Maharashtra

Ispat Industries Ltd has announced that the Company has entered into a Memorandum of Understanding (MOU) on December 05, 2006 with Government of Maharashtra for expansion of capacity for manufacture of steel at its integrated steel complex located at Dolvi, District Raigad, Maharashtra. The proposed expansion shall result in increase in steel making capacity from the existing 3 million tons per annum to 5 million tons per annum. The proposed expansion in steel making capacity shall entail an investment of approximately Rs 2,000 Crores. The proposed expansion is also expected to provide direct and indirect employment to about 10,000 persons.

The implementation of the MOU would be taken up by the Company after obtaining all requisite approvals.

Source : Equity Bulls

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