SAIL extends deadline to submit EoI for three lossmaking units

摘要

As no potential investors came forward to buy out SAIL’s three loss-making units — Alloy Steel Plant (ASP), Salem Steel Plant (SSP) and Visvesaraya Iron and Steel Plant (VISP) — the state-run steel firm has extended the deadline for submission of expression of interests (EoIs) for the third time to September 10. Initially, the deadline was set on August 1 which was extended to August 20 to allow investors more time to decide upon. SAIL had attempted outright sales of these units even in 2017, but that did not fructify for want of buyers. ASP, SSP and VISP are located in West Bengal, Tamil Nadu and Karnataka, respectively. These three units have a total of 2,100 permanent employees and cumulatively they incurred `2,300 crore in last five years.