JITF Water Infrastructure Ltd. announces a joint Venture (JV) company 'Jindal ITF Kobelco Eco Limited'

Company Brief

New Delhi, March 14, 2011

JITF Water Infrastructure Ltd., a subsidiary of Jindal ITF, the infrastructure arm of Jindal SAW Ltd., has announced to establish a joint venture company with Kobelco Eco-Solutions Co., Ltd., the core environmental business of the Kobe Steel Group, Japan, to develop water related business solutions by combining their technical and financial resources. The total paid capital is Rs. 22,500,000, with a share ratio of 51:49, JITF Water Infrastructure Ltd.: Kobelco Eco-Solutions Co., Ltd. respectively.

The joint venture company Jindal ITF Kobelco Eco Limited will focus on development of water related business in addition to PCB related business in areas like Water and Waste Water Treatment plants for Steel industry and Electric Power sectors, Seawater Desalination plants, Persistent Organic Pollutants-PCB (Poly-Chlorinated-Biphenyls) Treatment plants, Water and waste water treatment plants for projects promoted by the Japanese manufacturing companies and subsidiaries.

Mr. Allard M Nooy, Chief Executive Officer, JITF Water Infrastructure Ltd & JITF Urban Infrastructure Ltd. said, "We are delighted to announce our joint venture with Kobelco Eco-Solutions Co., Ltd which will bring about a revolution in the Industrial water and PCB related business segments. JITF Water Infrastructure Ltd. possesses an expertise in project development and execution while Kobelco Eco-Solutions Co., Ltd has technology, engineering expertise, and operation & maintenance know-how. The JV aims to augment both the companies' strengths into a stronger business platform."

Mr. Katsunori Aoki, President of Kobelco Eco-Solutions Co. Ltd. said, "Kobelco Eco-Solutions has been a pioneer in manufacturing environmental equipment mainly for use in water treatment and now has broadened its horizon to focus on environmental solutions in India through our accumulated experience and technologies. We are excited to increase our global operations by entering growing markets like India and are happy to have found able partners in Jindal ITF who, we are confident, would provide a great level of synergy to this joint venture, given their vast experience in project development in India."

The alliance prides itself in the ability to tailor solutions for its clients. It is dedicated to offer reliable and sophisticated solutions in the Indian water market. JITF Water Infrastructure Ltd. possesses a wide range of sales network as well as expertise in project execution and Kobelco-Eco Solutions aims to offer solutions that strive to find the best way to live in harmony with the natural environment and contribute to local communities. Its strong presence, diverse expertise and established knowledge base work to its advantage and allow it to identify opportunities, optimize resource utilization, and share best practices & lessons learnt globally.

For further information, please contact:

Media Contact: Jindal ITF Ltd.

Abha Negi

Mobile: +919811707968

Email: abha.negi@jindalsaw.com