Energy Development Company Limited associate is considering legal options to contest against the termination of Memorandum of Agreement for a project by Government of Arunachal Pradesh.
“Government of Arunachal Pradesh (GoAP) has issued a letter of termination for the Memorandum of Agreement for the execution of TSA-CHU-I Lower Hydro Electric Project and Pakkebung-II Hydro Electric Project which are being developed by subsidiaries of M/ s. Arunchal Hydro Power Limited which is an associate of M/ s. Energy Development Company Limited.
“M/ s. Arunchal Hydro Power Limited is considering legal options to contest against the termination of Memorandum of Agreement,” company informed the exchanges on Friday.
Energy Development Company Ltd stock ended at Rs9.70 down by Rs0.37 or 3.67% from its previous closing of Rs10.07 on the BSE.
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