Ann: Annual Report & Appendix 4G, page-2

• Last year the Company signed a Memorandum of Understanding (MoU) with the Chinese group, Wei Hua Group Ltd, to build a steel processing plant in Andhra Pradesh. We continue to make progress with visits by both parties to China and India. Importantly, as part of the existing MOU with the Andhra Pradesh Government, the Government has allotted NSL land for an integrated steel plant product, bringing our vision closer.