Jessop To Be Converted Into Core Sector Firm

The Ruia group chairman Pawan Kumar Ruia said today the wagon making firm Jessop would be producing a whole range of infrastructure items if his group succeeded in its bid for Jessop in the on-going disinvestment process.

The possibility of the Ruias bagging Jessop is bright as they are the only one bidding over the reserve price of Rs 17 crore set for the ailing engineering firm.

The other bidder, Titagarh Industries, has reportedly bid below the reserve price. The announcement on Jessop by the cabinet committee of disinvestment is expected on Wednesday.

Ruia, while answering a query on the rationale for quoting the highest bid through his company Ruia Cotex, said the group had