JSPL to divest its coal fired energy business to reduce emissions, debt by admin- Tuesday, April 27th, 2021 03:43:33 PM
Jindal Steel & Power Ltd has familiar a binding provide from Worldone Private Ltd (“Acquirer”), to divest its ninety six.42% stake in Jindal Power Ltd (“JPL”), a cloth subsidiary of the Company. The divestment is in keeping with JSPL’s strategic goal to continuously reduce its debt, awareness on its India Steel commercial enterprise and extensively lessen its carbon footprint by way of nearly half as part of its ESG objectives. The equity value is an all-coins provide of Rs. Three,half crores for ninety six.Forty two% stake in JPL inclusive of three,400 MW Coal fired power plants in State of Chhattisgarh and different non-core assets owned through JPL.