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Gujarat Mineral Development Corporation Ltd has entered into a joint venture agreement with Gujarat Fluorochemicals Ltd and Navin Florine International Ltd for fluorspar beneficiation project. The joint venture will be a separate company in which GMDC will own 50 per cent equity.
A consortium led by Madhucon Projects Ltd has received a Letter of Intent to set up a mine mouth coal fired power plant of 300 MW capacity (2 X 150) at South Sumatra in Indonesia. The plant is coming up very near to the existing coal mine of PT Madhucon Indonesia at Dawas site.
A separate SPV will be formed with Madhucon Projects holding 65 per cent stake and the balance by Madhucon's group companies. The SPV shall be entering into a power purchase agreement with PT.PLN (PERSEO), an Indonesian Government company for 25 years.
Rico Auto Industries Ltd has sold the entire 4,75,680 fully paid-up equity shares of Rs 100 each of the joint venture and subsidiary KRP Auto Industries Ltd to the joint venture partner Kailash Royal Premium Projects Private Ltd for Rs 20.30 crore.
Silver Spark Apparel Ltd , a 100 per cent subsidiary of Raymond Ltd, has entered into definitive agreements on December 8 to divest its entire equity holding of 7,40,000 shares of Rs 10 each (one third of the total share capital) held in the joint venture company Rayves Automotive Textile Company Private Ltd, to T B Kawashima Company Ltd, Japan. The transfer will take effect on completion of all legal formalities on or before December 20.
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