India Globalization Capital Begins Iron Ore Shipments (IGC)

India Globalization Capital, Inc. IGC announced today that it has begun its shipment of iron ore for its contracts. The Company has begun shipping Iron Ore from Orissa, India for one of its customers. As a result of continued monsoon rains in the Karnataka and Goa region of India, affecting ports from which IGC operates, the Company has moved some of its operations to the East Coast of India and has initiated servicing one customer from Vizag in Andra Pradesh. The iron ore grade being shipped is FE 63.5%. Ram Mukunda, Chief Executive Officer of India Globalization Capital, commented, "With a backlog of orders of over $200 million, we are excited to begin shipment on one of our contracts..."