Ankit Metal & Power has informed that the Company’s Factory at Jorehira, Chattna, Bankura, West Bengal is under temporary suspension of work till further notice. The Suspension of work is mainly on account of depressed domestic and global market conditions in Steel Industry causing huge & unbearable losses to the Company; Exhaustion of water supply sources. Water is a critical element in Steel Industry; and Excess manpower causing high operating costs.
The above information is a part of company’s filings submitted to BSE.