Jindal Stainless Ltd has informed that the Board of Directors of the Company at its meeting held on March 13, 2008, inter alia, has transacted follows:
1. In order to reap the benefit of rising infrastructure and utility services sector and to promote the usage of stainless steel in this sector, the Board of directors of the Company has resolved to promote a wholly owned subsidiary in India. The Board has also resolved to invest upto an amount of Rs 500 crore in this proposed subsidiary in next 2-3 years.
2. In order to have a focused approach for the acquisition of the mineral resources globally in countries like, Turkey, Indonesia, Vietnam and including India, the Board of directors has also resolved to form a wholly owned subsidiary Company in Singapore which will be a mining and metal Company and will act as hub for acquisition of all mineral resources available globally as well as in India. The Board has also resolved to invest upto an amount of USD 100 million in the this proposed subsidiary in next 2-3 years.
1. In order to reap the benefit of rising infrastructure and utility services sector and to promote the usage of stainless steel in this sector, the Board of directors of the Company has resolved to promote a wholly owned subsidiary in India. The Board has also resolved to invest upto an amount of Rs 500 crore in this proposed subsidiary in next 2-3 years.
2. In order to have a focused approach for the acquisition of the mineral resources globally in countries like, Turkey, Indonesia, Vietnam and including India, the Board of directors has also resolved to form a wholly owned subsidiary Company in Singapore which will be a mining and metal Company and will act as hub for acquisition of all mineral resources available globally as well as in India. The Board has also resolved to invest upto an amount of USD 100 million in the this proposed subsidiary in next 2-3 years.
No comments:
Post a Comment