Jaiprakash Associates plans to sell its wind power plants

In a bid to reduce its debts, Jaiprakash Associates is planning to sell its wind power plants of 49 MW (40.25 MW in Maharashtra and 8.75 MW in Gujarat) aggregate capacity. In this regard, the company’s board will meet on September 30, 2015.

Recently, CARE cut the ratings of the company’s bank loans and bonds to default status following delay in payment of interest and weak liquidity position.

Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.