Ferro Alloys Corporation has received an approval to execute a corporate guarantee for Rs 69.36 crore in favour of Rural Electrification Corporation (REC) for the loan of Rs 69.36 crore sanctioned to Facor Power, subsidiary of the company. The board of directors at its meeting held on June 11, 2013 has approved for the same. The board has also decided to seek shareholders approval through postal ballot for the same.
Ferro Alloys Corporation is one of the India's largest and most established producers and exporters of High Carbon Ferro Chrome/Charge Chrome worldwide, an essential ingredient for the manufacture of steel and stainless steel.
