ArcelorMittal offers Rs 4,800 crore for Essar Mahan under OTS: Power Finance Corporation
Updated : February 18, 2019 08:53 PM IST
Essar Group has made a resolution offer of Rs 3,500 crore under one time settlement (OTS) scheme for Essar Mahan, which is a 2x600 MW coal based power plant situated in Madhya Pradesh.
Besides PFC, other lenders to Essar Mahan are ICICI Bank, which is the lead bank, Punjab National Bank (PNB), Rural Electrification Corporation (REC). The total debt of the power plant is of Rs 7,500 crore.