(B.S)
The government has invited bids from firms for valuing the assets of privatisation-bound RINL or Vizag Steel. The Cabinet Committee of Economic Affairs (CCEA) on January 27 gave ‘in-principle’ approval for 100 per cent disinvestment of government stake in Rashtriya Ispat Nigam Limited (RINL), also called Visakhapatnam Steel Plant or Vizag Steel, alongwith RINL’s stake in its subsidiaries/joint ventures.
The Department of Investment and Public Asset Management (DIPAM), which manages the government’s equity in public sector companies, on March 11 floated the request for proposal (RFP) for appointing an asset valuer registered with the Insolvency and Bankruptcy Board of India (IBBI) to carry out the valuation of the company’s assets and assist the Centre in the process of strategic disinvestment of RINL. The last date for putting bids is April 4.
