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Sathavahana Ispat signs agreement with Jindal Saw

Capital Market 

To operate, maintain and manage the manufacturing facilities of Sathavahana Ispat

Sathavahana Ispat has entered into an Operation, Maintenance and Management Agreement with Jindal Saw. Under the agreement, Jindal Saw has agreed to operate, maintain and manage the manufacturing facilities of Sathavahana Ispat for a period of 3 years which may be extended for a maximum period of 10 years subject to certain conditions as provided in the Agreement.

According to the agreement, Jindal Saw will manufacture and sell the products, namely, ductile iron pipes, pig iron and coke and all other related items under its brand name during the term of the Agreement in consideration of the rentals as defined in the agreement.

The above arrangement will be effective upon receipt of all necessary statutory and other approvals.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 02 2019. 14:48 IST
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