India’s SAIL issues EoI for divestment of Alloy Steel Plant

Friday, 05 July 2019 12:26:19 (GMT+3)   |   Kolkata
       

Indian state-owned steel producer Steel Authority of India Limited (SAIL) has issued an expression of interest (EoI) seeking investors regarding the divestment of up to 100 percent equity of its wholly-owned subsidiary Alloy Steel Plant (ASP) located in Durgapur in the eastern Indian state of West Bengal, company sources said on Friday, July 5.

The sources said that SBI Capital Markets has been appointed as transaction advisors and state-run SAIL will divest up to 100 percent of its stake in ASP to an investor selected through competitive bidding.

ASP plant operates with a capacity of 246,000 mt per year of liquid steel and 184,000 mt per year of saleable steels which include alloy construction steel, carbon construction steel, case-hardening steel and other special grades of steel.

 


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