ArcelorMittal JV buys Bhander power plant, eyes more Essar ancillary units

Acquisition comes close on the heels of the firm getting NCLT nod for buying Odisha slurry pipeline

AM/NS India, a joint venture of ArcelorMittal and Nippon Steel, is getting closer to securing ancillary units that were not part of the Essar Steel acquisition.

On Tuesday, AM/NS India announced that it had completed the acquisition of the Bhander Power Plant in Hazira, Gujarat, from Edelweiss Asset Reconstruction Company. Bhander, a natural gas-based thermal plant with an installed capacity of 500 megawatt (Mw), will remain captive to AM/NS India’s steel manufacturing operations at Hazira, the company said.

Bhander was commissioned in 2006 and commenced commercial operations in 2008. It was owned by the Ruias, promoters of Essar group, who