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Jindal Steel and Power sells oxygen plant assets for 11.21 bilion rupees
October 9, 2017 / 11:01 AM / in 11 days

Jindal Steel and Power sells oxygen plant assets for 11.21 bilion rupees

REUTERS - Jindal Steel and Power Ltd (JNSP.NS) said on Monday it sold two oxygen plant assets to SREI Equipment Finance Ltd for 11.21 billion rupees ($171.70 million).

The logo of JSW is seen on the company's headquarters in Mumbai, India, February 11, 2016. REUTERS/Danish Siddiqui/Files

The steelmaker said it also signed a lease-back deal with the company which finances construction equipment purchases and will continue to operate the assets for manufacturing steel. bit.ly/2y4LVIb

The assets are located at the company’s plants in the eastern states of Chhattisgarh and Odisha.

($1 = 65.2900 Indian rupees)

Reporting by Jessica Kuruthukulangara in Bengaluru

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