PTI reported that Tata Steel has started operations at Neelachal Ispat Nigam in Kalinganagar in Odisha has started operations nearly 90 days after it was acquired by a Tata Steel Long Products. Tata Steel Long Products & NINL Chairman Mr TV Narendran said “Given that the site was not in operation for two years, we wanted to restart the furnace quickly, deploying and demonstrating Tata Steel's strong execution capabilities. The focus is now on ramping up production gradually to rated capacity as per plan.”The plan is to work to expand the capacity by building a 4.5 million tonnes per annum state-of-the-art long products complex in the next few years, and further expand it to 10 million tonnes per annum by 2030.NINL was incorporated in 1982 to set-up an integrated steel plant to undertake manufacturing and sale of steel products. NINL initially set up a 1.1 million tonne per annum blast furnace in 2002 to produce pig iron. Subsequently, other supporting facilities like sinter plant, coke oven plant, power plant, etc. were commissioned. In January 2022, the Company had been identified as the winner of the bidding process to acquire a 93.71% equity stake in NINL in accordance with the process being run by DIPAM, Government of India. Further, on 2 February 2022, DIPAM issued the Letter of Award to TSLP for acquisition of 93.71% equity stake of NINL. The Company accepted the said Letter of Award on 9 February 2022.
PTI reported that Tata Steel has started operations at Neelachal Ispat Nigam in Kalinganagar in Odisha has started operations nearly 90 days after it was acquired by a Tata Steel Long Products. Tata Steel Long Products & NINL Chairman Mr TV Narendran said “Given that the site was not in operation for two years, we wanted to restart the furnace quickly, deploying and demonstrating Tata Steel's strong execution capabilities. The focus is now on ramping up production gradually to rated capacity as per plan.”The plan is to work to expand the capacity by building a 4.5 million tonnes per annum state-of-the-art long products complex in the next few years, and further expand it to 10 million tonnes per annum by 2030.NINL was incorporated in 1982 to set-up an integrated steel plant to undertake manufacturing and sale of steel products. NINL initially set up a 1.1 million tonne per annum blast furnace in 2002 to produce pig iron. Subsequently, other supporting facilities like sinter plant, coke oven plant, power plant, etc. were commissioned. In January 2022, the Company had been identified as the winner of the bidding process to acquire a 93.71% equity stake in NINL in accordance with the process being run by DIPAM, Government of India. Further, on 2 February 2022, DIPAM issued the Letter of Award to TSLP for acquisition of 93.71% equity stake of NINL. The Company accepted the said Letter of Award on 9 February 2022.
