Department of Investment and Public Asset Management has received financial bids for sale of December 23 was the date to bid for Neelachal Ispat Nigam Limited L. As per a PTI report, Tata Steel, JSW Steel, JSPL and MEIL have participated in the bidding process of NINL and submitted their bids to DIPAM with their offer price and DIPAM will evaluate the offers and is expected to announce the results by January end. Department of Investment and Public Asset Management’s Secretary Mr Tuhin Kanta Pandey tweeted "Financial bids received for strategic disinvestment of Neelachal Ispat Nigam Limited. Process now moves to concluding stage.” The Department of Investment and Public Asset Management had invited preliminary bids for strategic sale of NINL in January 2021. The last date for bid submission was 29 March 2021. Following that, multiple expressions of interest from bidders were received. Steel majors Tata Steel, JSW Steel, JSPL and infrastructure company MEIL had submitted bids for NINL in Jul 2021 Neelachal Ispat Nigam Limited was incorporated in 1982 to set-up an Integrated Steel Plant to undertake manufacturing and sale of steel products. NINL's manufacturing unit is located at Kalinganagar Industrial Complex, Duburi in Odisha. The Company has built its manufacturing facility in two phases. In Phase I, the Company had set up the blast furnace of 1.1 million tonne per annum to produce pig iron which was commissioned in 2002. Subsequently, other supporting facilities like Sinter plant, Coke oven plant, Power plant were commissioned. The Company thereafter set up a Steel Melting Shop with installed capacity of 897,000 tonnes per annum for producing billets as Phase II capacity expansion plan along with Continuous Casting Shop, Ladle Furnace, Billet Caster and other auxiliary facilities which were commissioned during FY 2014. NINL has also been allotted a captive iron ore mine in Odisha having an estimated mineable reserve of around 90.91 million tonne. The major shareholders of NINL include MMTC 49.78%, NMDC 10.10%, MECON 0.68%, BHEL 0.68%, IPICOL 12.00% and OMC 20.47%.