GMS, one of the world’s largest buyers of ships for recycling, the Kotak fund and Sudip Bhattacharya, the insolvency resolution professional for Reliance Naval, didn’t immediately respond to emails for comment. “We are looking at it in two ways,” Jindal Steel’s Sharma said in an interview. “One is the strategic location as it is port based and the other is that it can be a good outlet to consume our own plates.”
Jindal isn’t partnering with any company for the bid, Sharma said. The port unit of A.P. Moller-Maersk A/S, the world’s largest container carrier, and 11 other groups had bid for the asset last year. Maersk’s unit though pulled out, the Hindu Businessline reported in October.
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