ArcelorMittal is exploring a joint offer with Resurgent Power Ventures Pte to buy an Essar Power generation plant, according to people with knowledge of the matter.
The companies have held preliminary talks on a potential joint bid for the 1,200-megawatt power plant in Singrauli, Madhya Pradesh, said the people, asking not to be identified because the information is private. Arcelor had previously made a non-binding offer of Rs 4,800 crore ($690 million) for the asset.
