Ferro Scrap Nigam privatisation: Deadline to submit bids extended again

The finance ministry has again extended the due date for submitting bids for the privatisation of Ferro Scrap Nigam (FSNL). 

The last date for submitting initial bids for the privatisation of FSNL has been extended to June 17. The Centre had earlier extended the deadline to submit bids to June 6 from May 5 as proposed in the preliminary information memorandum.  

FSNL was incorporated in 1979, and is a specialised steel mill service provider engaged in scrap processing for steel mill companies in India. The Cabinet Committee on Economic Affairs (CCEA) had accorded in-principle approval to divest entire stake in FSNL held through MSTC in October 2016.