AM/NS India Buys Essar Power Orissa Limited

AM/NS India has acquired Essar Steel’s captive power plant Essar Power Orissa Limited under the Securitisation and Reconstruction of Financial Assets and
AM/NS India Buys Essar Power Orissa Limited
Essar Power OrissaOdisha News

AM/NS India has acquired Essar Steel’s captive power plant Essar Power Orissa Limited under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act for INR 450 crore. Essar Power Orissa Limited is a coal based 120 MW captive power plant at Paradip in Odisha, of which 60 MW was operational & remaining 60 MW was under construction when insolvency proceedings started against Essar Steel. The asset has been an NPA since 2017.

AM/NS India had acquired Bhander power plant, a natural gas based thermal plant at Hazira, with an installed capacity of 500 MW through a bidding process from Edelweiss Asset Reconstruction Company last year.

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