Jindal Saw Limited has entered into in an Operation, Maintenance and Management Agreement with Sathavahana Ispat Limited. Under the above Agreement, the Company has agreed to operate, maintain and manage the manufacturing facilities of Sathavahana Ispat Limited for a period of 3 years which may be extended for a maximum period of 10 years subject to certain conditions as provided in the Agreement. Under the above Agreement, the Company shall manufacture and sell the products, namely, ductile iron pipes, pig iron and coke and all other related items under its brand name during the term of the Agreement in consideration of the rentals as defined in the above Agreement. The above arrangement will be effective upon receipt of all necessary statutory and other approvals.