Question: The government has approved the sale of Odisha-based Neelachal Ispat Nigam Limited (NINL) to which company for ₹12,100 crores?
(a) Tata Steel
(b) Jindal Steel and Power
(c) Steel Authority of India
(d) Rashtriya Ispat Nigam ltd
Answer: (a)
Related Facts:
- 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.
- Neelachal Ispat Nigam Ltd. (NINL) is a joint venture of 4 CPSEs, namely MMTC, NMDC, BHEL, MECON and 2 Odisha Government PSUs, namely OMC and IPICOL.
- NINL has an integrated steel plant with a capacity of 1.1 MT, at Kalinganagar, Odisha.
BY: AMIT GUPTA