Nod to sale of Neelachal Ispat Nigam

Tribune News Service

Updated At : 01:02 PM Jan 09, 2020 IST

Unlock Exclusive Insights with The Tribune Premium

Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits

Yearly Premium ₹999 ₹349/Year

Yearly Premium $49 $24.99/Year

New Delhi, January 8

The government today in-principle approved strategic sale of Neelachal Ispat Nigam Ltd (NINL) by allowing six PSU shareholders to sell their stake in the steel company.

A decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi, Information and Broadcasting Minister Prakash Javadekar said.

The strategic buyer for NINL will be identified through a two-stage auction procedure, said an official statement. — PTI

Auction process to decide buyer

NINL is a joint venture company, in which four central PSUs — MMTC, NMDC, BHEL and MECON and two Odisha government companies IPICOL and Odisha Mining Corporation are shareholders

MMTC holds 49.78% share in NINL, followed by OMC (20.47%), IPICOL (12%), NMDC (10.10%), while MECON and BHEL hold 0.68% each

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by : SORTD

Unlock Exclusive Insights with The Tribune Premium

Suggested Articles