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NCL Industries
BSE: 502168NSE: NCLINDISIN: INE732C01016

23rd-Aug-2019 15:17Source: BSE

NCL Industries - Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements

Dear Sir,

Joint Venture Company with China
We wish to inform you that NCL Industries Ltd. has signed an agreement to establish a Joint Venture Company with Qingdao Xinguangzheng Steel Structure Company Ltd. China for manufacture of Pre-engineered Steel Structures in India. The Board has approved the proposal to incorporate a Joint Venture Company pursuant to the Agreement.
In terms of the agreement, NCL and the Chinese Partner will hold 70% and 30% respectively of the equity of the Joint Venture Company.
The estimated project cost for the venture is around Rs.35 Crores and the equity investment of NCL in the Joint Venture will be in the range of Rs. 7.70 crores.
This is for your kind information and records please.

Yours faithfully,
for NCL INDUSTRIES LIMITED,

T.ARUN KUMAR
Company Secretary






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