Coal India to continue with fuel supply to power plants under import substitution in current fiscal

State-owned Coal India Limited (CIL) will continue with the supply of coal to the power plants under import substitution in the ongoing fiscal. The development assumes significance in the wake of the PSU earlier stating its drive for coal import substitution has gained tempo with consumers opting for about 90 million tonnes (MT) of indigenous coal in FY’21. “The […]

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Jindal Steel Power plans to offload power business to its promoter firm for Rs 3,015 crore, subject to approvals

The board of Jindal Steel and Power (JSPL) approved the divestment of its 96.4% stake in the company’s subsidiary Jindal Power (JPL) for Rs 3,015 crore to Worldone Private, which is owned by JSPL’s promoter group. Apart from reducing debt by around Rs 5,000 crore, this deal will help JSPL focus on its steel-making operations […]

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