Evonith Steel Acquires 85 MW Power Plant
POWER & RENEWABLE ENERGY

Evonith Steel Acquires 85 MW Power Plant

Evonith Steel has completed the acquisition of Indrajit Power Pvt Ltd in Wardha, Maharashtra, for Rs 232 crore through the Insolvency and Bankruptcy Code process. The company was approved as the successful resolution applicant by the National Company Law Tribunal on 20 April 2026.

Indrajit Power is an 85 MW coal-based power producer with the potential to meet Evonith Steel’s power requirements, including its immediate growth plans. The acquisition is expected to strengthen the company’s energy security and support its expansion phase through improved access to power at competitive costs.

The power plant is located adjacent to Evonith Steel’s manufacturing facility in Wardha, which is expected to improve logistics efficiency and reduce transmission losses.

Jai Saraf, Chairman, Evonith Steel, said steel plants are energy-intensive units and greater self-reliance in power supply will help ensure uninterrupted operations. He added that the acquisition is a critical step in supporting the company’s plans to expand production capacity.

Evonith Steel has completed the acquisition of Indrajit Power Pvt Ltd in Wardha, Maharashtra, for Rs 232 crore through the Insolvency and Bankruptcy Code process. The company was approved as the successful resolution applicant by the National Company Law Tribunal on 20 April 2026.Indrajit Power is an 85 MW coal-based power producer with the potential to meet Evonith Steel’s power requirements, including its immediate growth plans. The acquisition is expected to strengthen the company’s energy security and support its expansion phase through improved access to power at competitive costs.The power plant is located adjacent to Evonith Steel’s manufacturing facility in Wardha, which is expected to improve logistics efficiency and reduce transmission losses.Jai Saraf, Chairman, Evonith Steel, said steel plants are energy-intensive units and greater self-reliance in power supply will help ensure uninterrupted operations. He added that the acquisition is a critical step in supporting the company’s plans to expand production capacity.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code