New Delhi, June 15: Steel Authority of India Ltd (SAIL) claimed that a number of companies worldwide evinced interest in picking up majority stake in its loss making subsidiary Indian Iron and Steel Company (IISCO).The turnaround package cleared by the government in February included writing off of loans and advances to IISCO from SAIL amounting to Rs 1,566 crore together with government loan and interest rate of Rs 381 crore.SAIL said the process of entering into an agreement withthe strategic alliance partner would be finalised by the end of March 2001. Shortlisting of interested bidders is scheduled for July-end.Disinvestment of IISCO would be completed within a timebound programme as laid out in the memorandum of understanding (MoU) signed between the Ministry of Steel and SAIL, a company statement said.
