India Cements clarifies on news item
With reference to the news item appearing in a leading financial daily on March 06, 2008 titled “India Cements eyes coal mine acquisitions”, India Cements Ltd has clarified to BSE that in Explanatory Statement to the Notice dated November 19, 2007 convening an Extraordinary General Meeting (EGM) of the Company on December 14, 2007, the Company have stated that “In order to achieve the twin objectives of securing quality coal at a reasonable price and avoid the impact of ever increasing shipping freight, the Company has been on the lookout for opportunities for investment in coalmines abroad and acquisition of bulk Cargo Carriers to transport the coal” as one of the objectives for raising money.
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