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Global Invitation For Expression of Interest for STRATEGIC DISINVESTMENT OF NEELACHAL ISPAT NIGAM LIMITED

Posted on: March 09, 2021 | Back | Print

Neelachal Ispat Nigam Limited (“NINL” or “The Company”) was incorporated in 1982 to set-up an Integrated Steel Plant (ISP) to undertake manufacturing and sale of steel products. The major shareholders of NINL include MMTC, IPICOL, NMDC Ltd & The Orissa Mining Company Ltd (OMC). The Cabinet Committee on Economic Affairs (“CCEA”) on 8th Jan 2020 has given 'in principle' approval for strategic disinvestment of equity shareholding of MMTC (49.78%), NMDC (10.10%), MECON (0.68%), BHEL (0.68%), IPICOL (12.00%) and OMC (20.47%) in Neelachal Ispat Nigam Limited (NINL) to a strategic buyer, identified through a two-stage auction procedure.

Neelachal Ispat Nigam Limited (NINL), a company promoted by MMTC Ltd, Industrial Promotion and Investment Corporation of Orissa Limited (IPICOL) and other government agencies has set up an 1.1 million ton Integrated Iron and steel plant at Kalinganagar, Duburi, Dist-Jajpur, Orissa. NINL has its own captive power plant to meet the internal power requirement and air separation unit for producing oxygen, nitrogen and argon. NINL is having own captive iron ore mines which is under development.NINL has become India’s largest exporter of pig iron since 2004-05. Pig iron and LAM coke produced by NINL has established its acceptance in domestic as well as in international markets Company is widely catering demands of eastern,central and northern regions of India for Pig iron apart from exports. The “KAMDHENU” fertiliser produced is in high demand in nearby areas.Crude tar is being despatched to downstream industries for further processing.

Last Date of submission of Experession of Interest (EOI): 29.03.2021

For more, please visit: https://ninl.in/web



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