Congress Protests Disinvestment In Neelachal Ispat In Odisha

Published by
OB Bureau

Bhubaneswar: Protesting the disinvestment in Neelachal Ispat Nigam Limited (NINL) in Jajpur district, the Congress has urged the Odisha government to run the 1.1-million-tonne integrated iron and steel plant as a guarantor.

Speaking to the media on Thursday, Senior Congress leader Panchanan Kanungo said the NINL, which is managed by Metals and Minerals Trading Corporation (MMTC), has substantially increased its annual production. But the production in the plant came down as the Centre wanted more commission. Now, to get more commission, the Centre, in collusion with the state government has given in-principle approval for strategic disinvestment in NINL, he alleged.

Condemning the move, Kanungo said that if the Centre and the state government are keen on safeguarding the interest of Odisha, they should hand over NINL management to the Steel Authority of India Ltd (SAIL).

He further requested the state government to run the plant as a guarantor by allowing the state-owned Odisha Mining Corporation (OMC) and the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) to buy out the share of the steel PSU.

NINL is a joint venture of the Centre and Odisha government through their public sector enterprises.

The company has an equity shareholding of central public sector enterprises (CPSEs) Minerals & Metals Trading Corporation Limited (MMTC) (49.78 per cent), National Mineral Development Corporation (NMDC) (10.10 per cent), MECON (0.68 per cent) and Bharat Heavy Electricals Limited (BHEL) (0.68 per cent) and Odisha government PSEs, Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) (12 per cent) and Odisha Mining Corporation (OMC) (20.47 per cent).

OB Bureau

Recent Posts

Villagers Support JSW Steel’s Mines Expansion Plan At Public Hearing In Odisha’s Sundargarh

Sundargarh:┬áThe public hearing, conducted for environment clearance for capacity expansion of Narayanposhi iron and manganese…

May 24, 2022

Vacant Posts In MKCG MCH In Berhampur To Be Filled Up In 2 Weeks, Says Principal

Berhampur: The authorities of MKCG Medical College and Hospital in Odisha's Berhampur have announced that…

May 24, 2022

Women’s Rights Activist Karuna Nundy & Business Tycoon Gautam Adani Among TIME’s 100 Most Influential People

Bhubaneswar: Three Indians including a woman lawyer and activist have found place in TIME magazine's…

May 24, 2022

Man Shot Dead Near Emar Mutt In Puri

Puri: One person was shot dead at Talucha Sahi near Emar Mutt here on Tuesday…

May 24, 2022

Odisha: Cluster Resource Centre Coordinator Arrested For Taking Rs 20,000 Bribe

Koraput: Cluster Resource Centre Coordinator (CRCC) of Bijaghati section Singhsethi Kissan Kumar in Narayanpatna of…

May 24, 2022

[Watch] Brajrajnagar By-Election: Dharmendra Pradhan Raises Migration & DMF Funds Issues

Jharsuguda: Union Minister Dharmendra Pradhan on Tuesday hit the campaign trail for BJP candidate Radharani…

May 24, 2022