Fi­nal Call on Di­vest­ment of SAIL Units by Septem­ber

The Economic Times - - Economy: Macro, Micro & More -

The gov­ern­ment is likely to take a fi­nal call on strate­gic dis­in­vest­ment of three SAIL units by Septem­ber, and due dili­gence is al­ready on for the same. While the gov­ern­ment had in-prin­ci­ple ap­proved strate­gic dis­in­vest­ment of SAIL's Bhadra­vati, Salem and Dur­ga­pur (al­loy steel plants), modal­i­ties are yet to be worked out. “We hope that within 6-7 months, we would be in a po­si­tion to take a call on whether to dis­in­vest or not,” an of­fi­cial said. “We have given dead­lines... be­cause there are a lot of pro­cesses to be done -- eval­u­a­tion and ap­point­ing trans­ac­tion ad­vi­sors, le­gal ad­vi­sors, as­set val­uers, based on which the RFP (re­quest for pro­posal) will be floated for ac­tu­ally invit­ing peo­ple, short-list those bid­ders.. all that takes time,” the of­fi­cial added.

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