EoI for strategic sale of Rashtriya Ispat Nigam Ltd to be invited after discussions with stakeholders: Govt
The Minister of State for Finance, Bhagwat Karad, said the Cabinet Committee on Economic Affairs, had accorded, on January 27, 2021, 'in-principle' approval for 100 per cent disinvestment of the government's shareholding in RINL by way of strategic sale.
Expression of interest (EoI) for the strategic sale of Rashtriya Ispat Nigam Ltd (RINL) will be invited after discussing the broad contours of the transaction with stakeholders, Parliament was informed on Tuesday.
The Minister of State for Finance, Bhagwat Karad, said the Cabinet Committee on Economic Affairs (CCEA), had accorded, on January 27, 2021, 'in-principle' approval for 100 per cent disinvestment of the government's shareholding in RINL by way of strategic sale.
"EoI for strategic disinvestment requires broad contours of the transaction, including core and non-core land and assets, which would form part of transaction. These issues are to be settled after discussion with various stakeholders before the EoI for this transaction can be issued. The EoI (for RINL) has not been issued," Karad said.
He was replying to questions on why there was delay in issuing EoI of RINL and whether strike and non-cooperation from employee unions is one of the reasons for the delay.
Karad also said the EoI has not been issued in three cases—RINL, Container Corporation of India Limited (CONCOR) and the subsidiaries of AI Asset Holding Ltd, formerly subsidiaries of Air India. In-principle approval has been granted by CCEA in these three cases.
Edited by Swetha Kannan