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Govt shelves plan for strategic sale of SAIL's Durgapur Alloy Steels Plant

SAIL had invited an expression of interest from global and domestic companies for its proposed strategic disinvestment of its Alloy Steels Plant

Press Trust of India 

SAIL

The government has shelved plans for strategic sale of SAIL's in Durgapur,

(SAIL) had invited an expression of interest from global and domestic for its proposed strategic disinvestment of its

This was after the government's clearance for outright sale of state-owned SAIL's three special steel units -- Salem Steel Plant, and Visvesvaraya Iron and Steel Plant -- in 2017.

"...the process of strategic disinvestment of 100 per cent stake in Alloy Steels Plant (ASP) at by Ltd (SAIL) ... has been annulled," the Department of Investment and Public Asset Management (DIPAM) said in a notice.

As part of the strategic disinvestment, Alloy Steels Plant was planned to be transferred to the strategic investor on a going-concern basis by way of slump sale through business transfer agreement.

First Published: Thu, February 14 2019. 21:04 IST
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