Former Odisha Minister Dr Ghadai Calls for Revival of NINL
The Pioneer reported that Former Minister and chief adviser of the Kalinganagar Labor Union Dr Prafulla Chandra Ghadai said “While other private industries in Kalinga Nagar are planning to expand their steel mills, there is little justification to shut down a Government-run joint venture between the Central and State Governments like the Nilachal Ispat Nigam Limited. The Central Government should convene a high-level meeting soon and take a positive decision on the functioning of the Nilachal Steel Corporation. In addition, it can entrust any Central Government enterprise, such as SAIL, RINL or NMDC with the responsibility of managing it.”
The Cabinet Committee on Economic Affairs on 8th Jan 2020 had given 'in principle approval for strategic disinvestment of equity shareholding of Neelachal Ispat Nigam Limited to a strategic buyer, identified through a two-stage auction procedure. Thereafter Department of Investment & Public Asset Management invited Global Invitation for Expression of Interest in January 2021 for strategic disinvestment of Neelachal Ispat Nigam Limited. The sale will include transfer of management control, mining rights and leasehold rights of land currently held by the public sector enterprise under the steel ministry which makes pig iron and billets.
Business Standard reported in March 2021 that Tata Steel, ArcelorMittal Nippon Steel India and Vedanta’s ESL Steel may participate in the strategic disinvestment of of Neelachal Ispat Nigam Ltd. The due date for expression of interest for NINL is March 29.
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%.