KICL : PROPOSES JOINT VENTURE FOR SHIP RECYCLING AND SHIP CARE BUSINESS

• Kothari Industrial Corporation Limited (KICL) entered into an MoU on 30.09.2026 with Elegant Exit Company BV, Netherlands (EEC) and ALAR. • To explore cooperation in ethical ship recycling and ship care business in India. • Parties propose formation of a Joint Venture Company in Tamil Nadu for ship recycling and care business. • Ship recycling to be in accordance with international regulations, Hong Kong Convention, ILO standards, MARPOL requirements, and accepted EHS practices. • KICL to facilitate land identification and regulatory requirements within or in vicinity of Tuticorin Port. • MoU records understanding for exploring business opportunity and does not constitute a binding agreement. • Further developments, JV, investment, commercial arrangements subject to due diligence, negotiations, definitive agreements, and regulatory approvals.

Kothari Industrial Corporation Ltd

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