An Indian coal-fired power station in crisis is offered $1.68 billion by Jindal Power.
economictimes.indiatimes.com
India
07-02-2024
Share
.jpg)
A coal-based power station in the eastern area has drawn a bid of 140 billion rupees ($1.69 billion) from Jindal Power, a division of India's Jindal Steel & Power Ltd, two persons familiar with the issue told Reuters.
The business has made a financial bid for the KSK Mahanadi facility, which is the subject of bankruptcy proceedings and is being pursued by a number of companies, including billionaire Gautam Adani's Adani Power and Anil Agarwal's Vedanta Ltd.
Constructed by KSK Energy Ventures, the 1,800 megawatt power plant is one of several insolvent coal-fired private power plants that have been entangled in bankruptcy procedures in recent years due to owners lacking the necessary cash and fuel supply to finish them.