Neelachal Ispat Nigam Ltd
Tata Steel begins operations at Neelachal Ispat Nigam plant in Odisha
Odisha-based Neelachal Ispat Nigam Ltd (NINL) has started operations nearly 90 days after it was acquired by a Tata Steel subsidiary for Rs 12,000 crore in a bidding process, a statement said on Monday. The plant with a 1.1 million tonnes steel-making capacity was closed for almost two years on account of various reasons. Tata Steel Long Products (TSLP), a Tata Steel arm, in the statement said that it achieved a milestone with the restarting of the blast furnace at its subsidiary NINL, just 90 days after the completion of its acquisition on July 4, 2022. T V Narendran, Chairman of Tata Steel Long Products Ltd & NINL 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. Narendran, who is also the CEO & Managing Director of parent Tata Steel, said the focus is now on ramping up production gradually to rated capacity as per plan. Tata Steel has plans to invest
 "Tata Steel begins operations at Neelachal Ispat Nigam plant in Odisha")
Tata Steel completes Rs 12,100 cr acquisition of NINL via step-down arm
Apart from a 1.1 mt plant, Neelachal Ispat Nigam has iron ore mines with reserves of 90 million tonnes and 2,500 acres of land providing scope for future expansion
 "Tata Steel completes Rs 12,100 cr acquisition of NINL via step-down arm")
Neelachal Ispat Nigam ownership handed over to Tata group-owned TSLP
NINL is a joint venture of four CPSEs, namely MMTC, NMDC, BHEL, MECON and two Odisha Government PSUs, namely OMC and IPICOL
 "Neelachal Ispat Nigam ownership handed over to Tata group-owned TSLP")
Tata Steel to ramp up NINL operation to 1.1 MTPA within a year: Chairman
The ramping up of the operations of Neelachal Ispat Nigam Ltd (NINL) would be subject to obtaining statutory clearances.
Neelachal Ispat acquisition crucial for Tata Steel growth path: Official
The company plans to further expand it to 10 million tonnes per annum (MTPA) by around 2030, the official said.
Neelachal Ispat JV partners in share-purchase pact with Tata Steel arm
NINL is a joint venture of MMTC, NMDC, BHEL, MECON and 2 Odisha government PSUs - OMC and IPICOL
Jindal Steel & Power keen on RINL, NMDC's Nagarnar iron and steel plant
The two assets are bigger than the 1.1 mt NINL and would bolster steelmaking capacity for any buyer.
 "Jindal Steel & Power keen on RINL, NMDC's Nagarnar iron and steel plant")
How Tata Steel's bid for ailing NINL fits in with the major's strategy
On January 31 - the eve of the Union Budget - Tata Steel Long Products, a subsidiary of Tata Steel, was declared the winning bidder for a 93.71 per cent stake in Neelachal Ispat Nigam Limited
 "How Tata Steel's bid for ailing NINL fits in with the major's strategy")
Tata Steel arm to buy govt stake in Neelachal Ispat for Rs 12,100 crore
This is the first time a public sector steel manufacturing company has been privatised in India
Top headlines: Eco Survey sees 8%-8.5% FY23 GDP growth; NINL sale cleared
Business Standard brings you the top headlines on Monday
 "Top headlines: Eco Survey sees 8%-8.5% FY23 GDP growth; NINL sale cleared")
Market wrap: Sensex gains 814 points ahead of Budget in broad-based rally
Govt okays Neelachal Ispat sale to Tata Steel Long Products; stock rises 6%; Adani Wilmar IPO subscribed 17.36 times; GMP halves in a week; Hotel stocks rally on improved outlook after third wave
 "Market wrap: Sensex gains 814 points ahead of Budget in broad-based rally")
Centre gets bids for Neelachal Ispat, sale moves to 'concluding stage'
The central government has accepted most demands made by potential buyers for the joint venture steel company.
 "Centre gets bids for Neelachal Ispat, sale moves to 'concluding stage'")
Centre to relax lock-in period for sale of NINL assets to one year
The condition for the sale would be subject to the sale proceeds being utilised for the company within three years
 "Centre to relax lock-in period for sale of NINL assets to one year")
Strategic divestment: Valuation of companies caught in the crosshairs
Forces govt rethink on NINL valuation, delaying sale
 "Strategic divestment: Valuation of companies caught in the crosshairs")
Diamond in the rough: Why NINL is attracting interest from all the big boys
Why the sale of a loss-making public sector steel company, which has been closed for over a year, is attracting interest from all the big boys of the industry
 "Diamond in the rough: Why NINL is attracting interest from all the big boys")
Govt gets multiple EoIs for privatisation of Neelachal Ispat Nigam
NINL is a joint venture of MMTC, NMDC, BHEL, MECON, and two Odisha government-owned undertakings - OMC and IPICOL
 "Govt gets multiple EoIs for privatisation of Neelachal Ispat Nigam")
Tata Steel, AM/NS India, ESL Steel may participate in NINL divestment
Sources said that Tata Steel is looking to step up its exposure in long products and is planning to submit an expression of interest
 "Tata Steel, AM/NS India, ESL Steel may participate in NINL divestment")
Neelachal Ispat Nigam, partly owned by Odisha govt, to be privatised
The interested bidders should have a minimum net worth of Rs 2,000 crore
 "Neelachal Ispat Nigam, partly owned by Odisha govt, to be privatised")
Neelachal Ispat Nigam achieves sales turnover of Rs 2100 cr in 2018-19
This is the best turnover ever reported by NINL ever since the company started commercial operations
 "Neelachal Ispat Nigam achieves sales turnover of Rs 2100 cr in 2018-19")
Neelachal Ispat Nigam's hot metal production zooms 111% in FY19
NINL accomplished long steel and billets production of 76,866 tonnes and 68,081 tonnes respectively
 "Neelachal Ispat Nigam's hot metal production zooms 111% in FY19")
