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JSPL gets nod to sell its 1,000 MW power plant in Chhattisgarh to JSW Energy

19 Jul 2016 Evaluate

Jindal Steel and Power (JSPL) has received its shareholders’ approval to sell its 1,000 MW power plant in Raigarh, Chhattisgarh to JSW Energy. According to the deal, JSW will pay at least Rs 4,000 crore, excluding net current assets, and an additional Rs 2,500 crore if JSPL’s 1,000 MW power plant in Raigarh, Chhattisgarh secures a long term power purchase agreement.

Earlier this month, fair trade regulator the Competition Commission of India (CCI) had also approved the deal.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

Jindal Steel Share Price

1248.10 -10.45 (-0.83%)
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