The Indian government has invited bids from firms for the valuation of assets of state-run steel producer Rashtriya Ispat Nigam Limited (RINL) ahead of its privatization, a government official said on Thursday, March 17.
The Department of Investments and Public Asset Management (DIPAM) which oversees privatization of government companies has issued a request for proposals from firms registered with Insolvency and Bankruptcy Board of India (IBBI) to submit bids and act as asset valuers of RINL’s 7.3 million mt per year steel mill located in the southern port town of Vishakhapatnam, the official said.
The deadline for submission of bids is April 4, 2022.
The valuers will be required to carry out the valuation of all assets of RINL, subsidiaries and joint ventures, including their plant and machinery, land and buildings, furniture, civil infrastructure and associated intangibles on "as is where is basis", the official said.