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mjunction to help RITES sell its plants at Rohtas Industries at Dalmianagar

Infra News - Published on Mon, 03 Sep 2018

Image Source: ET
ET reported that mjunction services limited has helped RITES, an arm of Indian Railways, sell decommissioned plants and machinery of East Coast Railway through a transparent e-auction mechanism at a selling for price of INR 94.3 crore for its plants at Rohtas Industries at Dalmianagar, Bihar. RITES was entrusted by the Ministry of Railways for the disposal of scrap and construction of new Workshop for freight wagon repairs and overhaul. RITES engaged mjunction for the sale of scrap through e-auction. The plants, which were set up between 1940 and 1980, have been lying idle since 1984. The plants to go under the hammer include Cement, Paper, Power and Chemical among others. The total area under the installed plants was around 160 acres.

Mjunction, which has emerged as a leader in providing market price valuations of large plants and machineries, runs the largest e-marketplace for steel, having sold over 15 million tonne since 2001. The company operates auction platforms for coal, telecom spectrum, rough diamonds, idle assets, and food grains, among others, mjunction had also been appointed by the Directorate General of Hydrocarbons (DGH) to build a platform for them to enable e-bidding, e-evaluation of bids, and e-allocation of oil and gas fields.

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Posted By : Nanda Koijam on Mon, 03 Sep 2018
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