India: MoEF Approves Production Capacity Enhancement of Ardent's Pellet Plant

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, this is to inform you that the Ministry of Environment, Forest and Climate Change, Government of India has accorded its Environmental Clearance to Mis Ardent Steel Limited (A Subsidiary our Company) for enhancement of production capacity of existing Iron Ore Pelletisation Plant from 6,00,000 TPA to 6,90,000 TPA through Process Optimization without any further Capital Expenditure for the same. The approval will enable the Company to increase the production of iron ore pellet by 15% up-to 6,90,000 TPA.

The production at ASL recorded 4% increase Y-o-Y at 193,175 MT in Q3FY20.

Ardent Steel Limited (ASL) is the leading pellet manufacturing company in India. ASL is incorporated under companies Act on 13th April 2007 which is a subsidiary company of Godawari Power & Ispat limited (GPIL), Raipur.