Jindal Steel and Power Limited (JSPL), India’s leading steel and power major, has consummated sale of oxygen plant assets at Rs. 1121 core with SREI Equipment Finance Ltd.
Under the transaction, JSPL has divested its oxygen plant assets at its integrated steel plants at Raigarh and Angul. JSPL and SREI Equipment Finance have also entered into a lease back agreement of the oxygen plant assets for continued operations by JSPL for the manufacturing of steel at the respective plants.
Naushad A. Ansari, CEO, steel business, JSPL said, “The divestment of oxygen plant assets is a significant development to make JSPL an asset-light company, so as to further enhance the inherent cost efficiencies.”
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