Tata Steel enters into agreement with Jasper Ind

New Delhi, Jun 16 (UNI) Tata Steel Ltd today said its wholly-owned subsidiary, Rawmet Ferrous Industries Ltd has entered into a Share Subscription Agreement and Shareholders' agreement with Jasper Industries Pvt Ltd.

The agreement will help Tata Steel to set up a coal-based power plant of 2X67.5 MW capacity at Anantpur Village in Orissa, a company statement said.

Pursuant to the Shareholders' Agreement, Tata Steel and Rawmet together will hold 26 per cent and Jasper Industries will hold 74 per cent of the stake of the equity in Bhubaneshwar Power Pvt Ltd (JV company).

UNI PDT SR RK1451