By Our Correspondent /Agencies
BHUBANESWAR: Jindal Steel and Power (JSP) has acquired debt-laden Monnet Power for Rs 410 crore through insolvency route, a company official said on Thursday. The transaction for the Odisha-based 1,050 megawatt power asset was completed on Wednesday, PTI reported quoting Kapil Mantri, head of strategy at JSP.
JSP won the bid for Rs 410 crore for liquidation of power plant of Monnet Power via NCLT route.
The new asset will provide power to JSP’s steel plant in Angul, which is in expansion mode.
This asset will use 25 per cent less coal helping in low carbon emissions,” the company official said. Coal will be sourced from Uktak C, B1 and B2 mines of JSP.
