Several steel producers are interested in NINL

Tata Steel, ArcelorMittal Nippon Steel India and ESL Steel from Vedanta may participate in a strategic divestiture from Neelachal Ispat Nigam Ltd. On January 8, the Cabinet of Ministers Committee on Economic Affairs made a decision in principle to withdraw the 93.71% stake in NINL. strategic buyer identified through a two-stage auction procedure. The deadline for expressing interest in NINL is March 29th.

AM /NS India CEO Dilip Oommen said: “We are always looking for growth opportunities. Therefore, we are also evaluating participation in the NINL investment reduction program. "

ESL Steel CEO Pankaj Mulhan said: “We take this asset seriously. We are a manufacturer of long products, and this is a logical continuation. “In addition, given the attention the Indian government is giving to infrastructure, we would like to bet heavily on long positions.”

NINL is a 1.1 million tonnes pig iron and billet manufacturing facility located at the Kaliganagar Industrial Complex in Duburi in Odisha. NINL is jointly owned by the central and state PSU, the main shareholders of which are MMTC, IPICOL, NMDC, OMC. Founded in 1982, NINL was built in stages; In Phase I, the company installed a blast furnace for pig iron production, which was commissioned in 2002. Subsequently, auxiliary facilities were put into operation, such as a sinter plant, a coke oven, and a power plant. At the second stage, a steel-making shop for the production of ingots was installed. NINL has also allocated an in-house iron ore mine in Odisha with estimated useful reserves of approximately 90.91 million tonnes.