A proposal to garner over Rs 4,000 crore to the government through disinvestment of government stake in the state-run Steel Authority of India Limited (SAIL) has been deferred.
The decision to postpone divesting of 10.82 per cent government stake in the PSU was taken by the Cabinet Committee on Economic Affairs as Union Steel Minister Beni Prasad Verma was away on an official tour.
Verma is incidentally in the Japanese capital Tokyo to witness the signing between SAIL and Kobe Steel for the final pact of the equal joint venture aimed at setting up a 500,000 tonne iron nugget manufacturing plant in West Bengal entailing an investment of
Rs 1,500 crore.
(Published 12 July 2012, 16:19 IST)
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