Bhander Power plant in Hazira has been acquired by ArcelorMittal Nippon Steel India (AM/NS) from Edelweiss Asset Reconstruction Company. The plant was bought by AM/NS India under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act. The 500 MW Bhander power plant is natural gas-based thermal plant, will remain captive to AM/NS India’s steel manufacturing operations at Hazira. Earlier this month, ArcelorMittal India Private Limited (AMIPL) was declared preferred bidder for an iron ore mine license in Odisha following an tender process conducted by the state government. Thakurani block in Keonjhar district, with estimated reserves of 179.26 million tonnes, is expected to create a strong contribution to AM/NS India’s long-term raw material requirements. AMIPL will apply for required clearances, as well as mine development and production agreements, ahead of commencing mining operations. AM/NS India is an integrated flat carbon steel manufacturer in India, with total capacity of around 8.5 million tonnes per annum. The company was formed following the acquisition of Essar Steel through the insolvency process.