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ArcelorMittal, Resurgent Power Ventures may jointly take over Essar Power plant

Tuesday, 28 May 2019
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ArcelorMittal is exploring a joint offer with Resurgent Power Ventures to take over an Essar Power generation plant.

The companies have held preliminary talks on a potential joint bid for 1,200 MW power plant in the state of Madhya Pradesh.

ArcelorMittal had previously made a non-binding offer of Rs 4,800 crore (USD 690 million) for the asset.

The power plant in Madhya Pradesh, which supplies electricity to Essar Steel, will boost ArcelorMittal’s attempts to gain a foothold in the country.


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