Multiples EoIs Received For NINL Privatisation In Odisha

Picture courtesy: Money Control

New Delhi: The Centre has got multiple Expressions of Interest (EoI) for the privatisation of Neelachal Ispat Nigam Ltd (NINL).

Secretary for the Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey, said via a tweet, that transaction is now in the second stage as per schedule.

“Multiple expressions of interest received for privatisation of Neelachal Ispat Nigam Ltd (NINL). The transaction moves ahead to the second stage, on schedule,” the tweet read.

Neelachal Ispat Nigam Ltd is a joint venture of MMTC, NMDC, BHEL, MECON and two other Odisha government-owned undertakings — OMC and IPICOL.

The Union Cabinet had approved strategic disinvestment of equity shareholding of MMTC (49.78 per cent), NMDC (10.10 per cent), MECON (0.68 per cent), BHEL (0.68 per cent), IPICOL (12.00 per cent) and OMC (20.47 per cent) in the state-run company In January 2020, reported news agency IANS.

NINL has established a 1.1-million-ton Integrated Iron and steel plant at Kalinganagar, Duburi, Jajpur district, in Orissa. It has its own captive power plant to meet the internal power requirement and air separation unit for producing oxygen, nitrogen and argon. The NINL is having own captive iron ore mines which is under development, the agency report said.

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