Tata Group company, Tata Steel Long Products Ltd’s (TSLP) has acquired Odisha-based Neelachal Ispat Nigam Ltd (NINL) for Rs 12,100 crore. Neelachal Ispat Nigam Ltd (NINL) is a steel plant located in Kalinganagar in Odisha and was shut in March 2020 due to continued losses. It has a capacity of 1.1 million tonnes a year. This is the 1st instance of privatisation of a public sector steel manufacturing enterprise in India.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
NINL is a joint venture of four central public sector companies — Minerals and Metals Trading Corporation (MMTC), National Mineral Development Corporation (NMDC), Bharat Heavy Electricals Limited (BHEL) and MECON — and Odisha government entities OMC and IPICOL. NINL’s plant has been shut since March 2020. The Odisha government has 32.47 per cent stake in NINL through IPICOL and OMC, whereas the MMTC holds the 49.78 per cent share.
Important takeaways for all competitive exams:
Haryana is a state in northern India, known for its rich culture, history, and rapid…
The Real-Time Billionaire List, an annual compilation by Forbes Magazine, is a renowned roster detailing…
Countries around the world often have special nicknames that represent their culture, history, or unique…
The National Mission for Clean Ganga (NMCG) is spearheading several important initiatives under the Clean…
Prime Minister Narendra Modi will inaugurate the first-ever Bodoland Mohotsov on 15th November at 6:30…
For the first time, the India Meteorological Department (IMD) has introduced a localized weather forecasting…