Vedanta to acquire Athena Chhattisgarh Power

11 Jul 2022 CW Team

Vedanta will acquire Athena Chhattisgarh Power for Rs 564.67 crore. The liquidation process for the company was initiated in March last year. The acquisition for a purchase price of Rs 564.67 crore is likely to be completed in the ongoing financial year, adding that the consideration will be in the form of cash.

The acquisition will fulfill the power requirement for Vedanta aluminium business and through vertical integration, add synergies by providing a cost advantage pertaining to power consumption.

Athena Chhattisgarh Power has a 1,200 MW coal-based power plant located in the Jhanjgir Champa district in Chhattisgarh. Athena was admitted under Corporate Insolvency Resolution Process on May 15, 2019.

Unit 1 and unit 2 of the power plant are 80% and 30% complete, respectively. Therefore, the company has never been operational. The power plant is well connected to national highways and railway stations and is also located in close proximity to its water source, the Mahanadi River, and fuel source.

Also read:
Ascendas to acquire 1.65 mn sq ft in Bengaluru
Vedanta, Hindalco expresses interest in CIL project

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..