Govt extends deadline for FSNL strategic sale
2 years, 7 months ago

Govt extends deadline for FSNL strategic sale

Live Mint  

NEW DELHI: The department of investment and public asset management has extended the last date for submission of bids for strategic disinvestment of Ferro Scrap Nigam Ltd., a 100% subsidiary of MSTC Ltd., under the ministry of steel, by a month to June 6, and has clarified that the company is in the process of getting its existing contracts extended. The Cabinet Committee on Economic Affairs had in October 2016 given ‘in-principle’ approval to disinvest entire equity shareholding held through MSTC in FSNL, through strategic disinvestment and transfer of management control. FSNL is a Mini Ratna II CPSE, a 100% subsidiary of MSTC, incorporated in 1979 to provide steel mill services including processing steel mills slag for recovery of iron scrap and other metallics. The company has nine steel plants in India, and specialises in the recovery and processing of scrap from slag and refuse generated during iron and steel making across different steel plants.

India Steel Mstc Fsnl  company  govt  sale  steel  strategic  scrap  deadline  contracts  mstc  slag  plants  crore  extends  bidders  fsnl

History of this topic

FSNL divestment: Govt receives multiple EOIs for strategic sale of MSTC arm
2 years, 6 months ago

FSNL divestment: Govt receives multiple EOIs for strategic sale of MSTC arm

Live Mint  

The government has received multiple Expressions of interest received for Strategic Disinvestment of Ferro Scrap Nigam Ltd - a wholly owned subsidiary of MSTC Ltd, under the ministry of steel, announced Secretary, Department of Investment and Public Asset Management in a tweet on Monday. The government started the process of divesting its full shareholding in FSNL held through MSTC Ltd. …

Discover Related