Monday, 3 February 2014

JSPL buys 100% stake in Kineta Power

Jindal Steel and Power (JSPL) has bought 100% stake in Kineta Power, a privately-owned coal-based 1,980 MW power plant in Nellore district of Andhra Pradesh. The capacity of the power plant is between 3 units of 660 MW or 2 units of 800 MW.

JSPL has acquired Kineta Power through Jindal Power and the share purchase agreement was signed with Bangalore-based Kineta Mines and Minerals --the original promoters of the project-- on September 4, 2013 last year.

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.

No comments:

Post a Comment