The government has invited bids from transaction advisors to manage the strategic sale of MSTC’s subsidiary Ferro Scrap Nigam (FSNL). Under the administrative control of the steel ministry, FSNL has registered offices in Bhillai, Chhattisgarh, and is currently working with eight steel plants.
The government would appoint a transaction advisor from reputed consulting firms, investment bankers or financial institutions for providing advisory services to the Department of Investment and Public Asset Management (DIPAM) . They would be required to submit their bids by November 23.
MSTC is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India.
