Government approves sale of Ferro Scrap Nigam to Japanese firm Konoike Transport for Rs 320 crore

The Centre has sanctioned the sale of Ferro Scrap Nigam, a wholly-owned subsidiary of MSTC Ltd under the Steel Ministry, to Japanese firm Konoike Transport for Rs 320 crore. This decision was taken by an Alternative Mechanism comprising key ministers. Konoike’s bid exceeded the reserve price set by government valuations.