VISAKHAPATNAM: The Expression of Interest (EoI) for the strategic sale of Rashtriya Ispat Nigam Limited (RINL) has not been issued, Union Minister for Steel Jyotiraditya Scindia said in reply to a query raised by YSRC MP V Vijayasai Reddy in Rajya Sabha on Monday.
Scindia explained that the government has mandated that the strategic disinvestment of RINL take into consideration various aspects, including the timing of disinvestment, pricing, terms and conditions of the sale, inclusion or otherwise of non-core assets, mines, subsidiaries, units and stakes in JVs in the transaction.
On whether the Centre has scrapped proposals for the strategic sale of Salem Steel Plant in Tamil Nadu, Alloys Steel Plant at Durgapur in West Bengal, and Visvesvaraya Iron and Steel Plant (VISP) at Bhadravati in Karnataka, Scindia said EoIs issued for strategic disinvestment of Salem Steel Plant and VISP were annulled due to lack of interest of shortlisted bidders. He added that attempt for disinvestment of Alloys Steel Plant failed twice as no EoI was received.
The government had earlier accorded ‘in principle’ approval for strategic disinvestment of the three steel units in October 2016, Scindia pointed out.
Accordingly, the Department of Investment and Public Asset Management (DIPAM) initiated the process, he added.
Meanwhile, Minister of State for Steel Faggan Singh Kulaste in a reply to TDP MP Kanakamedala Ravindra Babu’s query said RINL has made requests to the Andhra Pradesh government for reservation of iron ore deposits under Section 17A (2A) of Mines and Minerals (Development and Regulation) Act, 2015. However, the Ministry of Mines has not received any recommendation from the State government, he added.