Friday , October 22 2021

Tata Steel evinces interest for acquiring stake in NINL

Tata Steel has evinced its interest for acquiring stake in Odisha-based steel maker Neelachal Ispat Nigam (NINL). NINL is a joint venture company, in which four central PSUs — MMTC, National Mineral Development Corporation (NMDC), Bharat Heavy Electricals (BHEL) and MECON — and two Odisha government companies IPICOL and Odisha Mining Corporation (OMC) are shareholders.

In January 2020, the Centre gave an in-principle approval for strategic sale of NINL by allowing the six PSU shareholders to sell their stake in the steel company.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.

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