Strategic sale of NMDC, SAIL units on cards

The Union government has begun the process for strategic disinvestment in assets of public sector undertakings, including three units of Steel Authority of India (SAIL), one of National Minerals Development Corporation (NMDC) and Ferro Scrap Nigam Ltd (FSNL).

Besides listing of MSTC, an undertaking under the ministry of steel that conducts a variety of auctions, is on the cards. FSNL is a subsidiary of MSTC.

Officials said transaction advisers were being appointed for the sales, which were likely to materialise in 2017-18. For assets that did not operate as companies, the parent company would first spin them off as 100