RINL strategic sale to be invited after discussing broad contours

New Delhi: Expression of interest (EoI) for strategic sale of RINL will be invited after discussing the broad contours of the transaction with stakeholders, Parliament was informed on Tuesday.

Minister of State for Finance Bhagwat Karad said the Cabinet Committee on Economic Affairs (CCEA), on January 27, 2021, had accorded 'in-principle' approval for 100 per cent disinvestment of the government's shareholding in Rashtriya Ispat Nigam Ltd (RINL) by way of strategic sale. "EoI for strategic disinvestment requires broad contours of the transaction, including core and non-core land and assets, which would form part of transaction. These issues are to be settled after discussion with various stakeholders before the EoI for this transaction can be issued.

The EoI (for RINL) has not been issued," Karad said. He was replying to question why there was delay in issuing EoI of RINL and whether strike and non-cooperation from employee unions is one of the reasons for the delay. Karad further said EoI has not been issued in three cases -- RINL, Container Corporation of India Limited (CONCOR) and subsidiaries of AI Asset Holding Ltd (AIAHL), formerly subsidiaries of Air India. In-principle approval has been granted by CCEA in these three cases.