The global Expression of Interest (EoI) call launched in 2019 was canceled due to insufficient interest. The Department of Investment and Public Assets Management (DIPAM) approved the termination, citing the unwillingness of bidders to proceed with the process.
This decision is similar to previous strategic sale initiatives related to SAIL's other units, Alloy Steels Plant (ASP) and Visvesvaraya Iron and Steel Plant (VISP). The difficulties faced by the Indian government in its efforts to privatize state-owned steel mills have led to a lack of interest from potential buyers and uncertainties regarding the attractiveness of state-owned steel assets.
This is also seen as a setback for the government's tendency to abandon strategic investments, while privatization underscores the overall challenges in the steel sector.
Comments
No comment yet.