GoI Approved the Sale of NINL to Tata Steel

Published on February 01, 2022
Current Context: The Government of India has approved the sale of Neelachal Ispat Nigam Ltd (NINL) to Tata Steel Long Products Ltd.
GoI Approved the Sale of NINL to Tata Steel
  • The deal of Rs 12,100 crore was approved for the same.
  • The NINL is a joint venture of MMTC, NMDC, BHEL, MECON, and two Odisha Government PSUs, namely OMC and IPICOL (Industrial Promotion and Investment Corporation of Odisha Limited).
  • For the sale, three companies namely Consortium of Jindal Steel & Power Limited and Nalwa Steel and Power Ltd, JSW Steel Limited, and Tata Steel Long Products Limited (TSLP) had raised a bid to buy NINL.
  • Among these, TSLP emerged to have the highest bid and so the NINL was sold to TSLP.
  • Static Part: 
    • HQ of TSLP: Odisha

Question: 

Q.1 To which company was Neelachal Ispat Nigam Ltd (NINL) sold with the highest bid value of Rs 12,100 crore?
a. Consortium of Jindal Steel & Power Limited and Nalwa Steel and Power Ltd
b. JSW Steel Limited
c. Tata Steel Long Products Limited (TSLP)
d. Essar Steel India Ltd

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