PSL LTD. - Updates

PSL Ltd has informed BSE that in order to meet the operating costs of Company's units at Varsana, Vizag, Vaiyavoor and Jaipur so as to improve overall financial performance of the Company which has been adversely affected lately due to ongoing CDR process the Company has entered into a comprehensive agreement for Operations, Maintenance and Management of these units with Jindal Tubular (India) Ltd., the wholly owned subsidiary of a listed Company namely Jindal Saw Limited for one year. The management of the Company feels that the broad terms and conditions on which the said Agreement has been executed are in the best interests of the company considering its aforesaid present circumstances.