Existing power pacts between Bhushan Steel, Energy under discussion: Tatas

Existing power pacts between Bhushan Steel, Energy under discussion: Tatas

FPJ BureauUpdated: Wednesday, May 29, 2019, 06:39 AM IST
article-image

New Delhi : Tata Steel said on Wednesday that the existing power purchase pact between Bhushan Steel, the debt-laden company which it acquired, and Bhushan Energy is in under discussion.

The statement comes amid reports that Tata Steel has started the process of cancelling PPAs between Bhushan Steel and Bhushan Energy in a bid to cut costs.

“Bhushan Steel has a contract (power purchase agreement) with another company BEL (Bhushan Energy). There are some discussions going on at this stage so nothing has happened as yet. There is discussion regarding the contract,” Tata Steel President —Steel business and Total Quality Management (TQM) — Anand Sen said.

RECENT STORIES

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byjus's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29...

A Big Relief For Byjus's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29...

Your Chocolates To Get Costly As Cocoa Price Surges To ₹8,33,892 Per Ton

Your Chocolates To Get Costly As Cocoa Price Surges To ₹8,33,892 Per Ton