Govt okays disinvestment of 3 SAIL units
Published: Jul 17, 2017
By TIOLCORP News Service
NEW DELHI, JULY 17, 2017: THE Minister of State in the Ministry of Steel, Mr. Vishnu Deo Sai provided in reply to a question in Lok Sabha today, informed that the government has accorded 'in-principle' approval for strategic disinvestment of three units of Steel Authority of India Ltd (SAIL) viz, Visveswaraya Iron and Steel Plant, Bhadravati, Salem Steel Plant, Tamil Nadu and Alloy Steel Plant, Durgapur.
These three units of SAIL have been consistently making losses. To improve the financial performance of the these three plants, various steps were taken by SAIL including capital investment to improve the facilities, reduction in logistic cost for transportation of raw materials and finished steel, production optimization and product-mix improvement.
The entire process of the strategic disinvestment is to be carried out with the help of Transaction Adviser (TA), Legal Adviser (LA) and Asset Valuer (AV) who would advise on appropriate mechanism of disinvestment.