Assets for sale include stakes in Odisha mines
The UK-based steel trader Stemcor Holdings ltd has extended its sale tender deadline for Indian assets worth Rs 2,000 crore till January 20.The extension was announced possibly because buyers needed time to consider the potential impact of proposals made by the Justice MB Shah Commission on illegal mining.
Sources said, the debt-ridden Stemcor Holdings earlier asked Goldman Sachs to study the prospects of sale of its Indian assets comprising an iron-ore pellet plant and stakes in mines in Odisha, sparking interest among top steel makers to get raw materials easily.
The bid-deadline has been extended several times since mid-November with bidders saying that they were inspecting the assets.The JSW Steel, Tata Steel ltd and Jindal Steel and Power ltd (JSPl) had expressed willingness to be part of the bid.Other firms who have shown interest include Essel Mining and Industries ltd and Glencore India, sources said.