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JSW ISPAT Steel: Outcome of Board Meeting

JSW ISPAT Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 21, 2013, inter alia, has approved the proposed acquisition of the cement grinding facility of Heidelberg Cement India Limited at Dolvi, Dist. Raigad, Maharashtra, adjacent to the companys steel plant. The acquisition is proposed by way of a slump sale and shall be subject to obtaining necessary approvals and completion of due diligence.

The cement grinding facility has an installed capacity of 0.60 MTPA and its acquisition would enable the Company develop a stable outlet for evacuation of slag apart from creating additional grinding facility for consumption / disposal of slag.