India Steel Works Ltd. approves MOU with Stecol International Pvt Ltd.

The Board of directors of India Steel Works Ltd. at its Meeting held 6th January, 2021 has approved and taken on record the MOU with 'Stecol International Private Limited' having its registered office at Essar House, 11, K.K Marg, Mahalaxmi, Mumbai-400034.

As per the terms and conditions of the MOU the Company is required to provide an unconditional and Irrevocable Corporate Guarantee to Stecol for a sum of Rs. 5.0 crores . The Board approved of the aforesaid Corporate Guarantee to be entered in to, with 'Stecol International Private Limited'.

This MOU and the Business relations with SIPL, will enable to enhance the existing scale of operations of the Company and benefit the company and its stakeholders.

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