Business Standard

Jindal Steel & Power keen on RINL, NMDC's Nagarnar iron and steel plant

The two assets are bigger than the 1.1 mt NINL and would bolster steelmaking capacity for any buyer.


JSPL, which had stayed away from bidding for the larger steel assets under IBC in 2018, is now looking at acquisitions after having reduced debt

Ishita Ayan Dutt Kolkata
Having lost out in the race for Neelachal Ispat Nigam Ltd (NINL) – an asset owned by central and state public sector undertakings (PSUs) – Naveen Jindal-owned Jindal Steel & Power (JSPL) has eyes set on state-run Rashtriya Ispat Nigam Ltd and NMDC Iron and Steel Plant (Nagarnar).

End-January, Tata Steel pipped a consortium of JSPL and Nalwa Steel and Power and also, Sajjan Jindal’s JSW Steel for the 1.1 million tonne NINL in a Rs 12,100-crore bid. But JSPL is now looking at other growth options. In the acquisition space, it is keen on bidding for RINL and NISP,

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First Published: Feb 21 2022 | 12:51 PM IST

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