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18-Apr2017

JSPL's arm looks to cut stake in SPV: Report

Jindal Power, a wholly owned subsidiary of Jindal Steel and Power (JSPL) is reportedly looking to sell part of its 74 % stake in special purpose vehicle (SPV) that's setting up the Rs 20,000 crore Etalin Hydro electric project in Arunachal Pradesh. With a capacity of 3,097 MW, the said project would be India's largest hydroelectric power project.

Etalin Hydro Electric Power Company is a 74:26 joint venture of Jindal Power and Hydro Power Development Corporation of Arunachal Pradesh. It is setting up the run-of-the-river project on rivers Dri and Tangon in the state's Dibang valley.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.


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