COAL INDIA LTD. - Coal India Ltd reply to clarification sought by the exchange
| < Back | |
| 16 Dec 2014 | |
| The Exchange had sought clarification from Coal India Ltd with respect to news appearing on ET NOW on December 15, 2014 titled "Coal India to set up South Africa Unit for acquiring Coal Assets."<BR> <BR>Coal India Ltd replied stating "We clarify the following :-<BR><BR>1. CIL Board in its 272nd meeting held on 12th August 2011 approved to start dialogue with Government of Limpopo to undertake initiatives.<BR><BR>2. A Memorandum of Understanding (MOU) was signed amongst CIL, Trade and Investment of Limpopo (TIL) and Corridor Mining Resources (CMR) of the provincial Govt. of Limpopo in South Africa in Sep 2011. No agreement or any contract has been signed by the parties.<BR><BR>3. As a follow up action, a Memorandum of Agreement (MoA) is to be signed between CIL and the state owned agencies of the provincial Govt. Limpopo.<BR><BR>4. CIL had engaged a consultant for assisting CIL for registration of a wholly owned subsidiary of CIL in South Africa in February 2013.<BR><BR>5. The draft Memorandum of Incorporation prepared by the consultant is under consideration of competent authority". | |
| View all announcements for COAL INDIA LTD. | Source: BSE India |
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback