PSUs

PSU on sale: Virtual roadshow to sell Neelachal Ispat this month

By IndianMandarins- 16 Sep 2020
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psu-on-sale-virtual-roadshow-to-sell-neelachal-ispat-this-month

The Department of Investment and Public Asset Management (DIPAM) is all set to organize virtual roadshows for bidders starting September 22, 2020. The first being Neelachal Ispat Nigam (NINL) which was approved by the cabinet for sale earlier this year in January.

The roadshow will be conducted for those interested in bidding for the steel company like JSW, Tata Steel, ArcelorMittal Nippon Steel, Vedanta, Japan-based steelmaker JFE Steel, and Korean steelmaker POSCO.

Neelachal Ispat, a 1.1 million tonne (MT) integrated iron and steel plant, is situated in the iron ore-rich state of Odisha, which can be expanded to 10 MT capacity. Public sector companies like MMTC, NMDC, and Odisha state government companies hold a stake in Neelachal Ispat.

The virtual roadshows, on the back of the coronavirus pandemic, will be held for potential buyers and will be steered by DIPAM Secretary Tuhin Kanta Pandey, along with officials including CMD and representatives of Neelachal Ispat Nigam.

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