Indian state-owned steel producer Steel Authority of India Limited (SAIL) has invited global bids for the strategic sale of its Alloy Steel Plant (ASP), located at Durgapur in the eastern Indian state of West Bengal, according to a regulatory filing by the company.
Bids for ASP will have to be submitted by interested domestic or global investors by April 11, 2018, according to a notice on Expression of Interest (EoI) issued by SAIL, and the strategic sale of ASP will be carried out through the open competitive bidding route.
The Indian government, the majority equity holder in SAIL, last year took a policy decision on the outright sale of the company’s wholly-owned subsidiaries, Alloy Steel Plant, Salem Steel Plant and Visvesvaraya Iron and Steel Plant, as ongoing companies.
ASP has an installed capacity of 246,000 mt of liquid steel per year and 184,000 mt of finished steel per year.