NCL Industries Ltd. (NCLIL) has entered into a Joint Venture Agreement with Moravia Containers A.S. of Czech Republic to set up a Joint Venture Company for manufacture of Modular Containers & Systems and other products. The Agreement provides for Equity participation of 74.9% by NCLIL and its affiliates in the Joint Venture Company. The initial Equity investment by NCLIL towards its share of equity in Joint Venture company shall not exceed INR 100.0 million.