POWER GRID CORPORATION OF INDIA LTD. - Power Grid Corporation of India Ltd reply to clarification sought by the exchange
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| 01 Jun 2015 | |
| The Exchange had sought clarification from Power Grid Corporation of India Ltd with respect to news appearing in Financial Express on May 29, 2015 titled "RINL power grid ink pact to form JV company."<BR> <BR>Power Grid Corporation of India Ltd replied stating "We wish to inform POWERGRID had vide its letter dt. September 19, 2014 informed to the Stock Exchanges (i.e. NSE & BSE) under Clause 36 of the Listing Agreement that POWERGRID Board of Directors in its meeting held on September 17, 2014 had accorded approval for "Formation of Joint Venture Company between POWERGRID and Rashtriya Ispat Nigam Limited (RINL) on 50:50 equity participation basis for setting up manufacturing facility for Transmission Line Towers & Tower Parts at Vishakhapatnam.<BR><BR>Further to that POWERGRID has on May 27, 2015 signed the Share Holders Agreement (SHA) with RINL for the said purpose." | |
| View all announcements for POWER GRID CORPORATION OF INDIA LTD. | Source: BSE India |
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