Education

Government gets multiple EoIs for privatisation of NINL

The federal government has acquired a number of expressions of curiosity from bidders for privatisation of Neelachal Ispat Nigam Ltd (NINL), DIPAM Secretary Tuhin Kanta Pandey stated on Monday. The Division of Funding and Public Asset Administration (DIPAM) had in January invited preliminary bids for strategic sale of NINL. The final date for bid submission was March 29.

“A number of expressions of curiosity acquired for privatisation of Neelachal Ispat Nigam Ltd.(NINL),” Pandey tweeted.

The transaction has now moved forward to the second stage, he added.

NINL is a three way partnership of

, NMDC, BHEL, MECON and a pair of Odisha government-owned undertakings – OMC and IPICOL.

In January final yr, the Cupboard had accredited strategic disinvestment of fairness shareholding of MMTC (49.78 per cent), NMDC (10.10 per cent), MECON (0.68 per cent), BHEL (0.68 per cent), IPICOL (12.00 per cent) and OMC (20.47 per cent) in NINL.

The method of privatisation of Air India, BPCL, Pawan Hans, BEML and Delivery Corp has additionally moved to the second stage after the federal government acquired a number of expressions of curiosity (EoI) for these CPSEs.

For 2021-22, the federal government has set a disinvestment goal of Rs 1.75 lakh crore, over 5 instances what it’s aiming to boost within the present monetary yr. Within the Revised Estimates, the goal has been set at Rs 32,000 crore for the present fiscal.

To this point this fiscal, the federal government has netted Rs 32,835 crore via minority stake sale in CPSEs and share buybacks.

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