Jaiprakash Associates signs Shareholders Agreement with SAIL for JV

Jaiprakash Associates Ltd has announced that in terms of the approval of the shareholders of the Company accorded on February 25, 2007, the Company on March 21, 2007, has signed the Shareholders Agreement with Steel Authority of India Ltd (SAIL) for setting up of 2.2 MTPA capacity slag based Cement Plant at Satna / Bhilai in the Joint Venture through a Special Purpose Vehicle to be incorporated for the purpose.

The Company shall be holding 74% stake in the Joint Venture, while 26% shall be held by SAIL.

Source : Equity Bulls

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