Ashapura Minechem

Ashapura Minechem Ltd has informed that the Company's Wholly Owned Subsidiary (WoS) 'Ashapura Minechem (UAE) FZE' in UAE, has approved on October 01, 2007, the setting up of a Joint Venture Company with Alawi Enterprises LLC, Oman (in the ratio of 60 : 40 respectively) in the Sultanate of Oman under the name of- 'Ashapura Zawawi Minerals LLC' or any other name as may be approved by the concerned Authorities of Sultanate of Oman.

The proposed Joint Venture Company will undertake business of mining and processing of Calcium Carbonate, Gypsum, Kaolin and other Industrial Minerals and also focus on value added products.

Further the Company has informed that, no funds for the same will flow from the Company.