JSW Energy has signed a business transfer agreement with JSW Cement for the sale of a18 MW thermal power plant at Salboni in West Bengal for Rs 956.7 million.
Earlier, the board of JSW Energy had approved the sale of 18 MW thermal power plant at Salboni to JSW Cement Limited on a going concern basis, subject to necessary approvals.The company has stated that the transaction is a related-party transaction and is carried out at arm’s length based on a valuation by an independent registered valuer.