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Corporate
Tata Steel in jt venture with Jasper Ind for power plant in Orissa

MUMBAI: Tata Steel Ltd has informed BSE that the company and its wholly owned subsidiary, Rawmet Ferrous Industries Ltd entered into a Share Subscription Agreement and Shareholders' Agreement with Jasper Industries Pvt Ltd to set up a coal based power pl ant of 2 X 67.5 MW capacity at Cuttack in Orissa.

As per the agreement, Tata Steel and Rawmet together will hold 26% equity and Jasper Industries will hold 74% equity stake in the joint venture company Bhubaneshwar Power Pvt Ltd.

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