The National Land Monetisation Corporation (NLMC) will conduct an e-auction of 459 plots in Visakhapatnam on behalf of Rashtriya Ispat Nigam (RINL), the corporate entity of Visakhapatnam Steel Plant. The sale is intended to bring parcels of land in established industrial locations into the monetisation process. NLMC framed the move as part of its wider asset disposal programme for central public sector enterprises (CPSEs).

Of the 459 plots, 456 are located at HB Colony in Maddilapalem while Blocks two and three at Auto Nagar in Gajuwaka are also included. The properties were broadly valued at Rs nine billion (bn) although the reserve prices, total extent of land, auction schedule and eligibility conditions have not been released. The absence of detailed particulars means bidders must await the formal notification for precise specifications.

NLMC referenced an August 29 post on the social media platform X indicating that further details would be announced soon and that the auction presented a significant opportunity in Visakhapatnam. The corporation was incorporated on June three, 2022 under the administrative control of the Department of Public Enterprises in the Ministry of Finance. Its mandate is to unlock economic value from surplus and non-core land and building assets through sale or lease to assist CPSEs undergoing strategic disinvestment or closure.

The proposed e-auction assumes significance amid central government efforts at asset monetisation involving the Visakhapatnam Steel Plant. RINL owns sizeable parcels across the city and this round of listings is part of broader measures to monetise non-core assets. Market participants and potential bidders will monitor the process once detailed terms are issued.

Key considerations expected to attract attention include the location, size, reserve price and permitted use of individual parcels. Detailed scrutiny of the auction conditions will determine bidder interest and the pace of transactions.