<article>Welspun Enterprises Ltd will buy a 49 per cent stake in two road projects even as JSW Energy may call off its Rs 2,700 crore deal to acquire Bina Power from Jaiprakash Power Ventures.</article>

Welspun Enterprises Ltd will buy a 49 per cent stake in two road projects even as JSW Energy may call off its Rs 2,700 crore deal to acquire Bina Power from Jaiprakash Power Ventures.
<h3 style="text-align: justify;">Welspun Enterprises to acquire 49% stake in two road projects</h3>
<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Welspun+Enterprises+Ltd" target="_blank" rel="noopener noreferrer">Welspun Enterprises Ltd</a> (WEL) has agreed to buy a 49 per cent stake in two road projects of National Highways Authority of India from MBL Infrastructures Ltd for Rs 23 crore ($3.5 million).
The two projects involve four-laning of Chutmalpur-Ganeshpur section of NH-72A; Roorkee-Chutmalpur-Gagalheri section of NH-73; and Gagalheri-Saharanpur-Yamunanagar section of NH-73.
The company has the option to acquire the remaining 51 per cent stake in these projects as and when the regulator (NHAI) permits, for Rs 24.5 crore ($3.8 million).
WEL board also approved the proposal of its subsidiary Welspun  Financial Services Limited (WFSL) applying to RBI for a NBFC licence. WEL proposes to hold 60 per cent in the company with the balance being held by the Welspun promoter group.
<h3 style="text-align: justify;">JSW Energy may cancel deal to acquire Bina Power</h3>
<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=JSW+Energy" target="_blank" rel="noopener noreferrer">JSW Energy</a> may call off its Rs 2,700 crore deal to acquire Bina Power from <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Jaiprakash+Power+Ventures" target="_blank" rel="noopener noreferrer">Jaiprakash Power Ventures</a>, The Economic Times <a style="color: #000080;" href="http://economictimes.indiatimes.com/industry/energy/power/jsw-energy-may-call-off-buying-bina-power-puts-toshiba-jv-in-cold-storage/articleshow/59744943.cms" target="_blank" rel="noopener noreferrer">reported</a>.
The deal is in line with change in company&#8217;s strategy.
“Our focus is that of our total 4.5 gigawatts, we have 64% tied up for the long term and we want to increase this to 75% in the next 12 months. Given the product mix that we have, some of our capacity is imported-fuelbased at locations where it is not very viable to have low cost of power at this point of time. We are working on getting necessary environmental approval on changing the fuel to domestic coal,&#8221; said chief executive Prashant Jain to ET.
The company has also put its power equipment joint venture with Japan’s Toshiba on the back burner.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-dealbook-127-78635/" target="_blank" rel="noopener noreferrer">India Digest: Noticeboard gets $1.2m from Stellaris; CL Educate ups stake in 361Minds</a>

Welspun Enterprises will buy a 49% stake in two road projects even as JSW Energy may call off its Rs 2,700 crore deal to acquire Bina Power.

India Digest: Welspun to buy stake in road assets; JSW may call off JP Power deal

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

India Digest: Welspun to buy stake in road assets; JSW may call off JP Power deal

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief