RINL seeks to sell 13.89 acres land in Visakhapatnam
economic times
India
23-02-2024
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Rashtriya Ispat Nigam Limited (RINL) has sought proposal for sale of non-core surplus freehold land parcels at its Visakhapatnam project. The move comes at a time when RINL is eying measures to trim debt. According to the request for proposal (RFP) document, RINL wants to sell 13.89 Acres of non-contiguous land plots. In all, 111 plots coupled into 19 blocks will be auctioned. The loan on RINL is estimated to be Rs 22,000 crore and annual debt servicing obligation is around Rs 3,000 crore.
The land being sold is spread across Visakhapatnam’s HB Colony, Maddilapalem, Auto Nagar, and Pedagantyada. NBCC (INDIA) Limited has been appointed as the Technical cum Transaction Advisor for the bids. PProperties can be inspected till March 5, and pre-bid meeting is called on February 28. The e-auction will take place from March 14 onwards.