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.