Press Release - JSPL to divest its coal fired power business to reduce emissions, debt To significantly reduce JSPL carbon footprint by almost 50%
JSPL to divest its coal fired power business to reduce emissions, debt To significantly reduce JSPL carbon footprint by almost 50% Key Highlights ● Cash Proceeds of Rs.3,015 crores to be received at closing ● Transaction in line with ESG objectives and debt reduction strategy of JSPL to create a robust balance sheet ● Enhanced Focus on India Steel business and upcoming Angul plant expansion from 6 MTPA to 12 MTPA Chennai, 27th April 2021: Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that Jindal Steel & Power Limited ("JSPL" or "the Company") has accepted a binding offer from Worldone Private Limited ("Acquirer"), to divest its 96.42% stake in Jindal Power Limited ("JPL"), a material subsidiary of the Company. The divestment is in line with JSPL’s strategic objective to continuousl...