Godawari Power to buy 75 pct in pelletisation unit

June 16, 2008

June 16th (Reuters) – Sponge iron maker Godawari Power and Ispat Ltd (GDPI.BO: Quote, Profile, Research) said on Monday it will take 75 percent stake in Ardent Steel Ltd, which is setting up a 600,000 tonnes a year iron ore pelletisation plant in Orissa.

Godawari did not disclose the financial details of the transaction.

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