ArcelorMittal- Nippon Steel in talks to buy 500 MW Bhander power unit.

AM/NS India - a joint venture (JV) between ArcelorMittal and Nippon Steel that has acquired Essar Steel - is in advanced stage of discussions with Edelweiss ARC to buy Bhander power plant.

Bhander Power, a 500 megawatts (Mw) natural gas-based plant located in Hazira, Gujarat, is captive to Essar steel plant, and was till recently owned by the Ruias, promoters of the Essar group. The power plant is being sold by Edelweiss under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act. 

BS