Steel Authority of India (SAIL) is mulling to bid for the stressed assets of Essar Steel and Bhushan Steel that are facing insolvency proceedings. In this regard, a team of SAIL has visited the units of Essar Steel and Bhushan Steel almost 20 days back to assess how are units and to evaluate whether to bid for the units or not.
Essar Steel was among the initial 12 companies identified by the Reserve Bank of India (RBI) for insolvency proceedings.
SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
