Neelachal Ispat’s Sale To Be Closed In A Few Days: Tuhin Kanta Pandey

Bhubaneswar: The Union Government is giving final touches to the sale of Odisha-based company Neelachal Ispat Nigam Limited (NINL). Secretary, Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey today said that the sale of NINL is going to be closed in a matter of days.

In December last year, the government received financial bids for strategic bids for the Odisha-based company that produces iron and steel. NINL is one out of the seven Central Public Sector Enterprises (CPSEs)/Units /Subsidiaries in the Steel Sector, up for strategic disinvestment as per the decision taken by the Central government.

Neelachal Ispat Nigam Limited (NINL) is the 1.1 million ton integrated iron and steel plant located at Kalinganagar, Duburi in Jajpur district. The government on January 25, 2021, invited preliminary bids for strategic sale of NINL.

(with inputs from IANS)