Strategic buyer for privatisation of Neelachal Ispat Nigam Ltd approved

Strategic buyer for Neelachal Ispat Nigam Ltd. (NINL) a joint venture of 4 CPSEs, namely MMTC, NMDC, BHEL, MECON and two Odisha Govt. PSUs, namely OMC and IPICOL, has been approved by the Government of India. The highest bid of M/s Tata Steel Long Products Limited for 93.71% of shares of Joint Venture partners of 4 CPSEs and 2 Odisha Govt State PSEs at the Bid Enterprise Value of Rs. 12,100 crore has been approved for the NINL running in huge losses and plant is closed since March 30, 2020.