09
Dec
06:50
Monnet Power acquisition secures power for JSPL
Jindal Steel and Power (JSPL) has acquired Monnet Power through the bankruptcy court with a winning bid of INR 410 crore ($49.88 million), a company source informs Kallanish.
According to source, JSPL outbid two other bidders, including a significant ports-to-green-energy business, to acquire Monnet Power.
Located near JSPL’s Angul steel plant, the Monnet Power plant’s power generation will be used by the company for JSPL’s captive purposes. The…
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Very good overview of the weekly steel market.
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