Tata Steel acquires strategic stake in Neelachal Ispat Nigam for Rs 12,100 crore ...Middle East

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Tata Steel acquires strategic stake in Neelachal Ispat Nigam for Rs 12,100 crore
source : Devdiscourse ( Middle East ) () 35
Tata Steel Long Products Limited, a unit of Tata Steel, has acquired a strategic stake in Odisha-based Neelachal Ispat Nigam Limited (NINL) for Rs 12,100 crore, the Ministry of Finance said on Monday. Neelachal Ispat Nigam Limited (NINL) is a Joint Venture of four central public sector enterprises (CPSEs), namely MMTC with a shareholding of 49.78 per cent; NMDC with a shareholding of 10.10 per cent; BHEL with a shareholding of 0.68 per cent; MECON with a shareholding of 0.68 per cent; and 2 Odisha Government PSUs, namely OMC with a shareholding of 20.47 per cent and IPICOL with a shareholding of 12 per cent.

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