The Cabinet Committee on Economic Affairs 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.
Last date & time for Submission of Expression of Interest: March 29, 2021
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. NINL’s manufacturing unit is located at Kalinganagar Industrial Complex, Duburi, Odisha. The Company has built its manufacturing facility in two phases (Phase I & Phase II).
In Phase I, the Company had set up the blast furnace (1.1 MTPA) to produce pig iron which was commissioned in 2002. Subsequently, other supporting facilities like Sinter plant, Coke oven plant, Power plant were commissioned. The Company thereafter set up a Steel Melting Shop (SMS) with installed capacity of 897000 TPA for producing billets as Phase II capacity expansion plan along with Continuous Casting Shop, Ladle Furnace, Billet Caster and other auxiliary facilities which were commissioned during FY 2014. NINL has also been allotted a captive iron ore mine in Odisha having an estimated mineable reserve of around 90.91 million tonne. The Integrated Steel Plant of Neelachal Ispat Nigam Limited at Duburi, Odisha has the following major production facilities:
- Sinter plant
- Blast furnace with pig casting facilities
- Coke oven and by-product plant
- Power generating station
- Steel Melt shop with BOF and caster
All enquiries related to the Transaction should be addressed to the following representatives of SBICAP at common email id NINL.Dipam@sbicaps.com.
For more information please follow the link: https://www.dipam.gov.in/dipam/strategic-disinvestment
