Joint Venture29 May 2025, 02:37 pm
India Steel Works Ltd Signs MoU with Lloyds Realty Developers and Smartquip Properties for Land Development
AI Summary
India Steel Works Ltd (ISWL) has entered into a Memorandum of Understanding (MoU) with Lloyds Realty Developers Limited (LRDL) and Smartquip Properties Pvt Ltd (SPPL) on 29-05-2025. The MoU is for the redevelopment and monetisation of land situated at Village Vihari, Taluka Khalapur, District Raigad, through the formation of a Special Purpose Vehicle (SPV). The definitive agreement will be executed within 30 to 45 days of the date of the MOU. ISWL has no shareholding in LRDL or SPPL. The purpose of the agreement is the redevelopment and monetisation of the land. The SPV will execute and manage the project.
Key Highlights
- India Steel Works Ltd has signed an MoU with Lloyds Realty Developers Limited and Smartquip Properties Pvt Ltd for land development.
- The land is situated at Village Vihari, Taluka Khalapur, District Raigad.
- The companies plan to form a Special Purpose Vehicle (SPV) for the execution and management of the project.
- The definitive agreement will be executed within 30 to 45 days of the date of the MOU.
- India Steel Works Ltd has no shareholding in Lloyds Realty Developers Limited or Smartquip Properties Pvt Ltd.