The Cabinet Committee on Economic Affairs (CCEA) has given in-principle approval for the sale of equity held by four Central Public Sector Enterprises and two-state PSUs in Neelachal Ispat Nigam Limited (NINL), Odisha.
- The Cabinet Committee on Economic Affairs (CCEA) has approved the strategic disinvestment of equity shareholding of Minerals & Metals Trading Corporation (MMTC), National Mineral Development Corporation (NMDC), MECON, Bharat Heavy Electricals (Bhel) and two Odisha state government PSUs in Neelachal Ispat Nigam Limited (NINL) to a strategic buyer.
- The buyer is to be identified through a two-stage auction procedure.
- NINL is a joint venture company, in which four central public sector enterprises MMTC, NMDC, Bhel and MECON, and two Odisha state government PSUs – IPICOL and OMC – are shareholders.
- The proposed strategic disinvestment of NINL would unlock resources to be used to finance the social sector and developmental programmes of the government.