Indsil Hydro Power and Manganese has informed that the Board of Directors of the Company on May 13, 2013 has decided to form a fully owned (100%) Special Purpose Vehicle (SPV) in Freezone in the UAE for routing its investments into the Oman Ferrochrome Project. Apart from investments into the existing project, the SPV is being formed also to facilitate future global investments contemplated by the Company.
The above information is a part of company’s filings submitted to BSE.