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Tata Power today announced sale of its 30 per cent stake in Indonesian coal company PT Arutmin for USD 500 million (Rs 3,150 crore) to cut its debt.

The development comes in the wake of the company’s Mundra UMPP project facing under recovery challenges.

Read more at: http://www.business-standard.com/article/pti-stories/tata-power-exits-indonesian-coal-firm-arutmin-for-usd-500-mln-114013101403_1.html