Mumbai: The government held initial talks on the sale of a stake in Steel Authority of India Ltd, (SAIL) the nation’s second biggest producer, steel secretary Pramod Rastogi said.
The government has yet to decide on the size of the stake, Rastogi said on Friday in a telephone interview.
The New Delhi-based steel maker is considering selling shares to partly fund expansion, chairman S.K. Roongta said earlier this month. SAIL plans to increase capacity more than two-thirds to 23.46 million tonnes by March 2012.