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 Industry & Economy - Disinvestment


Salem Steel Plant disinvestment shelved

Our Bureau

New Delhi , Feb. 24

THE Government has shelved plans to disinvest Salem Steel Plant (SSP) of the Steel Authority of India (SAIL).

The decision comes in the wake of the plant returning to profit. According to the Minister for Steel, Chemicals and Fertilisers, Mr Ram Vilas Paswan, the SAIL board has decided to close the present bidding project.

"I have had the matter examined. I have been informed by SAIL that in a recent meeting of the company's board, they had reviewed the progress of disinvestment of SSP and considering the time lapsed since the process was initiated, the changed market scenario and turnaround of SSP, decided that the present bidding process for disinvestment of SSP be closed," Mr Paswan said.

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