Ispat Industries enters into MOU with Government of Jharkhand

Ispat Industries Ltd has announced that the Company has entered into a Memorandum of Understanding (MOU) on January 12, 2007 with Government of Jharkhand for setting-up an integrated Steel Plant. The proposed steel plant shall initially have steel making capacity of 2.8 million tones per annum, which capacity is proposed to be enhanced to 5 million tones per annum in phases. The intergrated steel plant is proposed to be set-up at Manoharpur in West Singhbhum District in the State of Jharkhand. The proposed project shall entail an investment of approximately Rs 6750 Crores.

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

Source : Equity Bulls

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