[ad_1]
In 2018, the Cabinet Committee on Economic Affairs (CCEA) approved the strategic sale of these three units of Steel Authority of India Ltd (SAIL). Accordingly, global Expressions of Interest (EoIs) were invited on July 4, 2019, by SAIL for SSP.
“Multiple EoIs had been received and bidders were shortlisted. However, due to the lack of interest of shortlisted bidders to proceed further with the transaction, the Government of India, with the approval of Alternative Mechanism (Empowered Group of Ministers) has decided to annul the current EoI thereby terminating the present transaction,” the Department of Investment and Public Asset Management (DIPAM) said on its website on Wednesday.
For the current fiscal, the government had budgeted to raise Rs 51,000 crore through CPSE disinvestment and strategic sale. So far, it has been able to mop up Rs 10,052 crore.
[ad_2]
Source link