COVID Tsunami Delays Disinvestment of Steel Plants in India
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COVID Tsunami Delays Disinvestment of Steel Plants in India

Mint reported that Indian government’s Department of Public Investment and Management’s Secretary Mr Tuhin Kanta Pandey indicated that Indian

Mint reported that Indian government’s Department of Public Investment and Management’s Secretary Mr Tuhin Kanta Pandey indicated that Indian government’s ambitious disinvestment schedule for 2021-22 may get delayed by a few months because of the second wave of the covid-19 pandemic. Mr Pandey told Mint India Investment Summit 2021 ““Any divestment would mean that there are bidders on the other side and we have to listen to them as well. To some extent, the timing will be conditioned by the way they respond. In the last month or so, the pandemic has really come like a storm. We have to wait and see if the storm passes. I must admit that with the present wave, we have to see how soon we are able to have freer physical movement, particularly flight schedules and others, because certain amount of site inspection is also involved in the due diligence. However, subject to the availability of human resources that the bidders deploy, a lot of work can progress online and some of the work that is more physical will have to actually wait till things are clearer on the physical movement side. This may lead to a little bit of a delay in the disinvestment cycle.”

Mr Pandey, however, exuded confidence that the INR 1.75 trillion target is still achievable.

According to Department of Public Investment and Management’s website, following is the status of disinvestment plansMint reported that Indian government’s Department of Public Investment and Management’s Secretary Mr Tuhin Kanta Pandey indicated that Indian government’s ambitious disinvestment schedule for 2021-22 may get delayed by a few months because of the second wave of the covid-19 pandemic. Mr Pandey told Mint India Investment Summit 2021 ““Any divestment would mean that there are bidders on the other side and we have to listen to them as well. To some extent, the timing will be conditioned by the way they respond. In the last month or so, the pandemic has really come like a storm. We have to wait and see if the storm passes. I must admit that with the present wave, we have to see how soon we are able to have freer physical movement, particularly flight schedules and others, because certain amount of site inspection is also involved in the due diligence. However, subject to the availability of human resources that the bidders deploy, a lot of work can progress online and some of the work that is more physical will have to actually wait till things are clearer on the physical movement side. This may lead to a little bit of a delay in the disinvestment cycle.”

Mr Pandey, however, exuded confidence that the INR 1.75 trillion target is still achievable.

According to Department of Public Investment and Management’s website, following is the status of disinvestment plans

EOls - Closed (Transaction in Stage II)

  • BPCL

  • Air India

  • Pawan Hans Ltd

  • SAIL SSP & VISL

  • Shipping Corporation of India

  • BEML Ltd

  • Neelanchal Ispat Nigam Limited

EOls - Currently Available

  • Nil

EOls - In Pipeline

  • Rashtriya Ispat Nigam Limited

  • CONCOR

  • HLL Lifecare

  • Project & Development India Limited, PDIL

  • Indian Medicine Pharmaceutical Corporation Limited, IMPCL

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