Steel Exchange India Ltd enters into MoU with APEDB

Steel Exchange India Limited ("the Company") has entered into a Memorandum of Understanding ("MoU") with the Andhra Pradesh Economic Development Board, Government of Andhra Pradesh (APEDB) for the proposed expansion of the Company's integrated steel plant by 1 Million Tonnes Per Annum (MTPA) to manufacture green steel and alloy products.

Further, we wish to inform that the Company's Wholly-Owned Subsidiary (WOS), SEIL Infra Logistics Limited, has also entered into a separate MoU with APEDB for collaborative initiatives relating to the development of a Multi-Modal Logistics Park and General Cargo Terminal in support of the proposed expansion.

These MoUs represent strategic initiatives by the Company and its WOS aimed at enhancing capacity and promoting environmentally sustainable and integrated industrial development. The MoUs are nonbinding in nature and serve as frameworks for mutual cooperation and evaluation of project implementation modalities between the respective parties.

Source : Equity Bulls

Keywords

SteelExchangeIndia MoU APEDB Expansion