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News Brief | November 2013

JSPL in talks to buy 1,320 MW power project in Andhra Pradesh

Jindal Steel and Power (JSPL) is known to be in talks to purchase a 1,320 MW coal-based power plant at Nellore, Andhra Pradesh, that belongs to Hyderabad-based Kineta Power. While the value of the deal is not known, sources said the cost of setting up the power plant is Rs 5,000 crore. The project, which is currently under implementation, has already received forest and defence clearance. The project is promoted by Bangalore-based Kineta Mines and Minerals and owned by V Balashowry, who is the chairman and managing director of Kineta Power.
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