Jindal Steel To Buy Power Projects

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>Jindal Steel &amp; Power is examining about two dozen proposals to buy power projects that have acquired land and government licences to accelerate expansion, a senior executive said.<br><br>Jindal Power, a unit of Jindal Steel, whose 72-billion-rupee IPO plans have been delayed due to rocky market conditions, recently placed newspaper advertisements seeking to buy projects of above 1,000 mw.<br><br>"Today if you want to set up a project from absolute planning stage, it takes hell lot of time to acquire land and acquire permissions," Sushil Maroo, chief financial officer at Jindal Steel and Power, told Reuters in an interview.<br><br>The talks with project owners are in the initial stages and some decision on purchase will be taken within 6 months, Maroo said, without specifying how many deals Jindal Power was eyeing.<br><br>(Reuters)</p>