Economy&Business-Govt invites bids for 100% stake sale in three SAIL plants

The government Thursday invited bids for 100 per cent stake sale in Steel Authority of India Ltd's (SAIL) three plants. The Department of Investment and Public Asset Management (DIPAM) invited Expression of Interest (EoI) from bidders for SAIL's Alloys Steels Plant (ASP), Salem Steel Plant (SSP) and Visvesvaraya Iron and Steel Plant (VISP).

DIPAM said the last date for submission of EoIs physically for all three plants is August 1, and shortlisted bidders will be intimated on August 8. SAIL is the country's largest steel maker with a capacity of over 21 million tonnes per annum.

All three units of the steel giant have been making losses. JSW Steel and Tata Steel have already announced expanding capacity in India and have been in a look out for new assets.

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