JSPL acquires Monnet Power’s power plant for Rs 4.10 billion

Jindal Steel & Power Limited has acquired an under-construction power plant from the Monnet Power Company for Rs 4.1 billion through the insolvency resolution process. JSPL will utilise the plant to provide power to its steel plant in Angul, which is in expansion mode. The plant is 20-25 per cent more efficient than its existing plants in terms of coal usage.