INS Viraat auction likely in March, Lok Sabha told

The government is likely to conduct another auction process of retired aircraft carrier INS Viraat for scrap again in March as the first e-auction was carried out on 17 December 2019 did not succeed. The first auction was conducted by MSTC Limited.

New Delhi:As the first e-auction of the retired aircraft carrier INS Viraat for scrap did not succeed in December last year, the government is likely to conduct another auction process again in March, Minister of State for Defence Shripad Naik said on Wednesday.

"The e-auction was carried out on 17 December 2019, wherein a total of three bidders participated. However, the auction was rejected in MSTC bidding process as the H1 bid was less than 50 per cent of reserve price of the ship," Naik said in a written reply to a question in the Lok Sabha.

The first auction was conducted by MSTC Limited.

Naik added that the expected bid amount has been fixed in accordance with the existing Indian government regulations on the disposal of ships as "scrap".

(PTI Report)