The Centre has invited bids from firms for valuing assets of Rashtriya Ispat Nigam Ltd (RINL). The pre-bid meeting was held on March 16.

The Department of Investment and Public Asset Management (DIPAM) in a notification dated March 11 floated a request for proposal (RPF) for appointing an asset valuer registered with the Insolvency and Bankruptcy Board of India (IBBI).

The Cabinet had on January 27 given an in-principle approval for divestment of 100 per cent of government stake in RINL, also called Vizag Steel.

The valuer’s scope of work will include valuation of all assets of RINL, its subsidiaries and joint ventures including their plant and machinery, land and buildings, furniture & fixtures, civil infrastructure and associated intangibles on “as is where is basis”.

The bidders need to be a company or a limited liability partnership or registered partnership firm.