Debt-ridden Monnet Power purchased by Jindal Steel and Power for 410 cr via NCLT.

On Thursday, a business representative said that Jindal Steel and Power (JSP) Limited has paid 410 crore for the deeply indebted Monnet Power through the insolvency process.

The deal for the 1,050 megawatt power facility with an address in Odisha was completed on Wednesday, according to Kapil Mantri, head of strategy at JSP.

Mantri claims that the newly acquired facility will provide power to JSP’s developing Angul steel factory.

JSP, a part of the OP Jindal Group, is a significant player in the mining, steel, and power sectors, with global investments exceeding 90,000 crore.

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