Jindal ITF announces appointment of Ram S Ramasundar as Group CFO

Appointment to enhance focus on Financial Planning and Management

Jindal ITF Ltd. (Infrastructure, Transportation & Fabrication), the infrastructure arm of Jindal SAW Ltd., announced the appointment of Mr. Ram S Ramasundar as the Group Chief Financial Officer. Mr. Ramasundar joins from DLF Hotels Holdings Ltd. where he was the Senior Executive Director; his previous experience includes heading various finance functions at organizations like Hindustan Lever Ltd, PepsiCo India Holdings and Ranbaxy Laboratories Ltd. amongst others. As the Group CFO, he will be responsible for financial planning & strategies and oversee group’s corporate initiatives.

Welcoming Mr. Ramasundar onboard, Mr. Indresh Batra, Chairman, Jindal ITF Ltd., said, “Jindal ITF is embarking on a journey to scale up presence in the ITF segment. Towards this end, we are strengthening the Group’s organization structure with the appointment of Mr. Ramasundar and welcome him on board. His extensive experience and financial expertise would support the company’s growth strategy.”

Mr. Ram S Ramasundar said, “I am delighted to take on this responsibility at Jindal ITF and look forward to working with them. My focus will be to devise financial strategy in sync with the Group’s vision of becoming a dominant player in the sector.”

Mr. Ramasundar brings with him a rich professional experience of over 32 years. A qualified Chartered Accountant and Company Secretary, he holds a Masters of Business Administration from IIM Ahmedabad alongwith Bachelor of Commerce from Chennai University.

About Jindal ITF Ltd.:
Jindal ITF is the infrastructure arm of Jindal SAW and its business verticals include Jindal Aquasource, Jindal Vector, Jindal Ecopolis, Jindal Rail Infrastructure and Jindal Shipyards. These diverse portals are united under a single goal: that of improving life in a sustainable manner. Jindal Aquasource is focused on turnkey development, ownership and management of new water and wastewater projects. Jindal Vector is a logistics solutions provider using waterborne transportation as a backbone. Jindal Ecopolis provides comprehensive and effective solutions to manage municipal solid waste. Jindal Shipyards is developing India Maritime Technology Park, a 700-hectare project at Dahej that expects to start large-scale integrated shipbuilding in late 2010. The company also produces equipment for ships, shipyards, ports and terminals, in association with overseas partners. Jindal Rail Infrastructure is a new venture, focused on producing rail wagons and metro coaches for domestic and overseas deployment.