The deal is subject to the approval of Steel Authority of India, its joint venture partner in Bokaro, Jaiprakash said after a board meeting.The infra major has been on an asset-selling spree to de-leverage its balance sheet. Including subsidiaries, Jaiprakash Associates had total debts of Rs. 55,000 crore to Rs. 56,000 crore in September. The company has planned to cut its debt by Rs. 15,000 crore through sales of assets including cement and power plants during the current fiscal year through March.