RINL among six steel plants listed for sale, Minister tells Rajya Sabha

Jul 21,2021

Union Minister of State for Finance Bhagwat Kishanrao Karad on Tuesday confirmed that six steel plants, including the RINL-VSP, were listed for sale.

The Minister was referring to YSRCP member V. Vijaya Sai Reddy’s unstarred question in the Rajya Sabha on Tuesday, on whether the Union government was proposing to sell some steel plants in the near future.

The Minister stated that disinvestment of the CPSEs, including the steel plants, was guided by the New Public Sector Enterprise Policy for Atmanirbhar Bharat. It was notified on February 4 this year, after it was approved by the Cabinet on January 27, 2021.

The Minister further stated that as per the new policy, the existing Public Sector Enterprise were broadly classified as strategic and non-strategic sectors.

In the strategic sector, the existing Public Sector Enterprise at the holding company level would be retained under government control. In the non-strategic sector, including steel plants, the PSEs would be considered either for privatization or closure.

The Minister identified RINL, Neelachal Ispat Nigam Limited, NMDC Integrated Steel Plant and Alloy Steel Plant, Durgapur, Visvesvaraya Iron and Steel Plant, Bhadravathi, and Salem Steel Plant for disinvestment.

He also confirmed that no steel plant had been sold during the last five years.

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