Final Call on Divestment of SAIL Units by September
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.