India's sole private sector Zinc producer Binani Zinc will bid for government equity in Hindustan Zinc (HZL), slated for privitisation during 2000-01, company officials said on Sunday. It is natural for Binani to show interest in the company being the only other Zinc producer in the country, company spokesperson Bina Varma told PTI from Mumbai.
Government appointed Banque Nationale De Paris-Paribas as global advisor for sale of its 27 per cent equity in HZL to a strategic partner. Thereafter government will be left with 49 per cent equity in the corporation. Varma said that the Binani would definitely like to bid for the public sector Zinc major at a time when the government has come out with a proposal to disinvest and added that her company would like to wait till an Expression of Interest (EoI) is advertised before taking a final decision on the matter.

Binani would like to utilise the opportunity to grow from strength to strength in the non-ferrous metals business, the spokesperson said. Bureau Report