The government has scrapped the privatisation of SAIL's Bhadravathi steel plant due to insufficient bidder interest. The government had invited expression of interest (EoI) for divesting SAIL's 100% stake in Visvesvaraya Iron and Steel Plant (VISP), Bhadravathi in Karnataka in July 2019.
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The Department of Investment and Public Asset Management (DIPAM) indicated that the strategic sale of SAIL's Visvesvaraya Iron and Steel Plant (VISP), Bhadravathi in Karnataka, had received multiple EoIs and bidders also conducted due diligence. However, due to insufficient bidder interest in proceeding further with the transaction, the government had to scrap privatisation bid of SAIL's Bhadravati steel plant.
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