Government has received multiple expressions of interest for privatisation of Neelachal Ispat Nigam Ltd (NINL). In a tweet, Secretary, Department of Investment and Public Asset Management, Tuhin Kanta Pandey said the transaction moves ahead to the second stage, on schedule.
Earlier, the government had invited bids to privatise NINL seeking to divest 93.7 per cent stake held by four central public sector enterprises and two Odisha government PSUs.
In January last year, Cabinet Committee on Economic Affairs had given in principle approval for strategic disinvestment of equity shareholding of Minerals and Metals Trading Corporation Limited, National Mineral Development Corporation, MECON and Bharat Heavy Electricals Ltd as well as two Odisha State Government PSUs in Neelachal Ispat Nigam Limited to a strategic buyer identified through a two-stage auction procedure.