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| Exchange Disseminated Time | The Exchange has sought clarification from NMDC Ltd with respect to the news item in The Asian Age on December 12, 2014 titled "NMDC to buy Akron Stake"
NMDC Ltd has replied stating
"1. MoU has been signed between NMDC Limited, India (on behalf of a consortium comprising NMDC Limited and fertilizer companies, namely RCF, KRIBHCO, NFL and FACT). The basic objective of the MoU is for development of Verkhnekamsk Potassium and Magnesium Salt Deposit in Perm Krai (VPC Potash Project).
2. The VPC Project is expected to have a total capital investment of 2 billion US Dollars.
3. The Consortium led by NMDC has expressed interest in becoming a strategic investor by acquiring 30% stake in VPC, subject to viable techno-economics of the VPC Project based on comprehensive due diligence in potash assets of VPC." |
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