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Centre gets multiple EoIs for privatisation of Neelachal Ispat Nigam, informs DIPAM Secy

DIPAM had in January invited preliminary bids for strategic sale of NINL. The last date for bid submission was March 29.

March 29, 2021 / 06:38 PM IST
Neelachal Ispat Nigam Ltd. (PC-NINL)

Neelachal Ispat Nigam Ltd. (PC-NINL)

The government has received multiple expressions of interest from bidders for privatisation of Neelachal Ispat Nigam Ltd (NINL), DIPAM Secretary Tuhin Kanta Pandey said on Monday. The Department of Investment and Public Asset Management (DIPAM) had in January invited preliminary bids for strategic sale of NINL. The last date for bid submission was March 29.

"Multiple expressions of interest received for privatisation of Neelachal Ispat Nigam Ltd.(NINL)," Pandey tweeted. The transaction has now moved ahead to the second stage, he added.

Oil India, Engineers India and Assam govt to pick up BPCL stake in Numaligarh refinery for Rs 9,876 crore

NINL is a joint venture of MMTC, NMDC, BHEL, MECON and 2 Odisha government-owned undertakings OMC and IPICOL. In January last year, the Cabinet had approved strategic disinvestment of equity shareholding of MMTC (49.78 per cent), NMDC (10.10 per cent), MECON (0.68 per cent), BHEL (0.68 per cent), IPICOL (12.00 per cent) and OMC (20.47 per cent) in NINL.