NMDC's steel plant sale: Bids by March
Its Nagarnar Steel Plant, which is under construction in Chhattisgarh, is expected to commence operations this month; Once the demerger process is complete, the DIPAM will proceed with the privatisation of Nagarnar Steel Plant
New Delhi: The government is likely to invite preliminary bids for the strategic sale of NMDC's Nagarnar Steel Plant by March-end, an official said. The official said that NMDC's under-construction steel plant in Chhattisgarh is expected to commence operation this month, and once the demerger process is complete, the Department of Investment and Public Asset Management (DIPAM) will proceed with the privatisation of Nagarnar Steel Plant.
"The demerger of NMDC and Nagarnar Steel Plant (NSP) is in the final stages, and the plant is expected to commence operation this month. We will proceed with appointing merchant bankers thereafter," the official told PTI. The official said the preliminary bids or EoI is likely to be invited from bidders by March-end. The sale process will happen in the next fiscal beginning April 2023.
