Monnet Ispat & Energy has signed non-binding Memorandum of Understanding (MoU) with JSW Energy for entering into discussion to sell majority and controlling stake of its subsidiary, Monnet Power Company, which is engaged in the business of developing 1,050 MW (2 x 525) Coal fired thermal power plant located at Malibrahmani, Angul Orissa.
Monnet Ispat & Energy is engaged in the business of sponge iron, steel ingot & billets and coal mining.