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BRIEF-India Resources updates on recommencement of Surda expansion project

Published 12/10/2015, 08:42 am
Updated 12/10/2015, 08:48 am
© Reuters.  BRIEF-India Resources updates on recommencement of Surda expansion project
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Oct 12 (Reuters) - India Resources Ltd IRL.AX :

* Recommencement of Surda expansion project IRL.AX

* Has been reached for the recommencement of the Surda expansion project

* Says negotiations between IRL, SEPC and HCL have been ongoing for several months

* IRL through its unit India Resources Copper Mining Private signs MOU with Shriram EPC as principal contractor to Hindustan Copper Limited (HCL)

* Says "recommencement of the Surda expansion project is a positive achievement for irl"

* SEPC has taken out a contractors all risk insurance policy. ICMPL has agreed to pay the premium on this policy

* IRL/ICMPL will provide third ranking charge limited to INR 7 crores and replaces earlier supplied corporate guarantee of 14 crores

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