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Govt approves sale of NINL to Tata Steel Long Products for Rs 12,100 cr

Neelachal Ispat is a joint venture of 4 CPSEs and 2 Odisha government PSUs

Govt approves sale of Neelachal Ispat to Tata Steel Long Products
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BS Web Team New Delhi
The government on Monday said it has approved sale of loss-making Neelachal Ispat Nigam Ltd (NINL) to Tata Steel Long Products Ltd for Rs 12,100 crore.

NINL is a joint venture of four CPSEs, namely MMTC, NMDC, BHEL, MECON and two Odisha Government PSUs, namely OMC and IPICOL. NINL has an integrated steel plant with a capacity of 1.1 million tonnes (MT), at Kalinganagar, Odisha. The company has been running in huge losses and plant is closed since March 30, 2020.

Three companies -- Consortium of Jindal Steel & Power Limited and Nalwa Steel and Power Ltd; JSW Steel Limited;

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First Published: Jan 31 2022 | 3:01 PM IST

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