Tata Steel said on Monday that its wholly owned subsidiary, Rawmet Ferrous Industries Ltd. has entered into a share subscription agreement and shareholders' agreement with Jasper Industries.
The three companies will build a coal-based power plant of 2 x 67.5 MW capacity at Anantpur Village, Cuttack, Orissa, subject to the fulfillment of certain conditions.
Pursuant to the shareholders' agreement, Tata Steel and Rawmet together will hold 26% and Jasper Industries will hold 74% stake in Bhubaneshwar Power Pvt Ltd (the JV company).
Resources - Indiainfoline Ltd
Monday, June 16, 2008
Tata Steel forms JV with Jasper Industries
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