Sail, NMDC divestment plan before Cabinet soon


“The proposals will shortly be placed before the Union Cabinet and we’re expecting a decision latest by January,2010.

The steel ministry has already begun consultations with merchant bankers in this regard,” Singh told reporters here.

  The government is looking to mop up close to Rs 19,000 crore and Rs 13,000 crore from the divestment of shares of Sail and NMDC respectively.  Sail’s disinvestment comprises issue of ten per cent fresh equity shares and as much of FPO, eight or little above eight per cent shares of NMDC will be up for grab.
Singh was here to inaugurate the Metals Minerals Manufacturing Expo 2009 and an international symposium on metallurgy.

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