Steel & Mining

Jindal Steel in advanced talks to sell more assets: CEO

jindal-sell-assets (File) Workers walk inside the Jindal Power and Steel Ltd complex at Nisha village in Odisha | Reuters

Jindal Steel and Power is in advanced talks with several parties to sell some of its steel and mining assets and hopes to close a $976 million power plant deal earlier than a mid-2018 deadline, its CEO told Reuters.

Jindal Steel on Tuesday signed a deal to sell a 1,000 megawatt power plant to billionaire Sajjan Jindal's JSW Energy Ltd in a deal valued at up to $976 million. Jindal Steel is majority owned by Sajjan's brother Naveen.

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Topics : #Steel | #business

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