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JSPL to invest Rs 1,500 cr to run operations of Monnet Power plant

Monday, 09 Jan 2023
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Jindal Steel and Power (JSPL) plans to infuse up to Rs 1,500 crore to operationalise the recently-acquired Monnet Power plant located in Angul, Odisha.

The 1,050 MW under-construction coal-based power project, once completed, will fulfil the power requirements of JSPL's steel plant in Angul,  the site for expansion activities.

The investment will be made over the next 12-18 months.

The coal for Monnet Power will be sourced from the Uktal B1 and B2 mines which have approximately 347 million tonne of reserves.

The acquisition of Monnet Power by the steel major was completed at a value of Rs 410 crore through the insolvency route in December, 2022.

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