New Delhi, May 16: Jindal Steel and Power (JSPL) today announced that it would foray into the power trading business as part of plans to become an integrated power house.
"We have drawn up plans to enter power trading business for which we would seek a licence", vice president (finance) Sushil Maroo told reporters here.
The group would sell merchant power produced by its sister company Jindal Power (JPL) which is setting up a 1000 MW power station in Raigarh.
JSPL would soon approach Central Electricity Regulatory Commission (CERC) formally seeking a licence.
Maroo said the foray into power trading would be a logical step for the company as it would enable it to further consolidate its presence in the sector.

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"We are already present in power generation business... Once our power plant is running we would also be distributing power to industrial consumers through a dedicated transmission link established by the company. Therefore it is only sensible for us to enter trading business", Maroo said.

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The Navin Jindal run company is the largest coal based sponge iron steel maker in the country with a total capacity of over one million tonnes. It already runs a captive power unit of 250 MW supplying power to its steel plant.

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