Visakhapatnam Steel Plant to Auction Land: Investor Interest High

Lilu Dhruw
2 Min Read
Visakhapatnam Steel Plant to Auction Land: Investor Interest High

Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, joined hands with National Buildings Construction Corporation (NBCC) and National Land Monetisation Corporation (NLMC) to organize an interactive session on Tuesday, gearing up for the e-auction of RINL lands scheduled for March 14.

The event saw participation from various stakeholders, including investors, bankers, bidders, developers, and organizations like CREDAI, along with individual bidders. The interactive session aimed to showcase the non-core assets of RINL available for sale, including different land plots and blocks spread across Visakhapatnam.

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These land parcels, measuring a total of 13.89 acres, are situated in prime locations such as HB Colony, Maddilapalem (11.80 acres), Autonagar (2.0 acres), and Pedagantyada (0.089 acres). During the session, RINL’s chief general manager (HR) G. Gandhi, NBCC’s general manager G. Rajaram, and NLMC’s GM Rohin Koppuravuri addressed queries from potential bidders, providing necessary clarifications.

The formal process for the e-auction began with the issuance of a request for proposals on February 14. Subsequently, a pre-bid meeting is scheduled for Wednesday, February 28, allowing interested parties to gather further information and insights. The deadline for the submission of Earnest Money Deposit (EMD) has been set for March 5.

The e-auction itself is slated to commence on March 14, marking an important milestone in the monetization of RINL’s assets. This initiative not only presents an opportunity for potential investors but also aligns with the broader objectives of asset monetization and efficient land utilization.

The collaborative efforts of RINL, NBCC, and NLMC underscore a proactive approach toward unlocking the value of surplus land assets, thereby contributing to economic growth and development in Visakhapatnam and beyond. As the countdown begins for the e-auction, stakeholders eagerly anticipate the outcome, anticipating positive prospects for investment and development in the region.

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Hi, my name is Lilu, I am a content writer specializing in the topics of Automobiles, Travel, News, Bollywood and Technology
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