Jaiprakash Associates clarifies on news item

Mon, Dec 03, 2012 at 16:26

Jaiprakash Associates clarifies on news item

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Jaiprakash Associates clarifies on news item

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With reference to the news item appearing in a leading financial daily titled "Birla in talks to acquire Gujarat cement unit of Jaiprakash Associates for 0m", Jaiprakash Associates Ltd has clarified to BSE that:"Jaiprakash Associates Limited had entered into a JV Agreement with Madhya Pradesh State Mining Corporation Limited for Coal Mining at Amelia (North) Coal Block in Sidhi District of Madhya Pradesh. For this purpose, a Special Purpose Vehicle, namely, Madhya Pradesh Jaypee Minerals Limited had been incorporated who had appointed JAL as Mine Developer cum Operator for the said mines the produce whereof is committed to be supplied to Jaypee Nigric Super Thermal Power Project being implemented by Jaiprakash Power Ventures Limited.Further note that the Govt. of India, Ministry of Environment and Forest has since accorded the Second Stage (Final) Forest Clearance in respect of the said Coal Block by granting its approval under Section 2 of the Forest (Conservation) Act, 1980 for diversion of 728.750 hectares of forest land for Coal Mining."Source : BSE

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