Essar concludes $2 bn sale of port, infra assets to ArcelorMittal Nippon Steel
Essar Group Monday said it has concluded sale of its two port assets and a power plant to ArcelorMittal Nippon Steel India Limited (AM/NS India) for $2.05 billion, or Rs 16,500 crore.
The sale consisted of infra assets which include a 270 MW power plant and 25 MPTA port at Hazira, Gujarat and a 12 MPTA port at Paradip, Odisha.
An agreement for this transaction was signed by both the companies in August this year.
“Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) today concluded the US$ 2.05 billion (?16,500 crore) sale of captive ports and power assets located in Hazira and Paradip to ArcelorMittal Nippon Steel India Ltd (AM/NS),” Essar said in a statement.
