Financial bids for NMDC Steel’s new plant is expected in August
Steel

Financial bids for NMDC Steel’s new plant is expected in August

The Indian government is set to invite financial bids for a 50.79% stake in NMDC Steel, a subsidiary of NMDC (National Mineral Development Corporation), following the completion of the company's new plant in Chhattisgarh. The plant is expected to be fully commissioned by June, after which the government aims to expedite the strategic disinvestment process.

Key players in the steel industry, including Tata Steel, JSW Steel, Jindal Steel and Power, Adani Group, and Vedanta Group, have shown interest in acquiring the stake. The government, holding a 60.79% stake, plans to offer 10% to NMDC and retain the remaining 50.79% for sale. The strategic sale of NMDC Steel is part of the government's disinvestment target for the fiscal year 2023-24, as it focuses on divesting from identified companies like IDBI Bank, SCI, and IREDA.

The Indian government is set to invite financial bids for a 50.79% stake in NMDC Steel, a subsidiary of NMDC (National Mineral Development Corporation), following the completion of the company's new plant in Chhattisgarh. The plant is expected to be fully commissioned by June, after which the government aims to expedite the strategic disinvestment process. Key players in the steel industry, including Tata Steel, JSW Steel, Jindal Steel and Power, Adani Group, and Vedanta Group, have shown interest in acquiring the stake. The government, holding a 60.79% stake, plans to offer 10% to NMDC and retain the remaining 50.79% for sale. The strategic sale of NMDC Steel is part of the government's disinvestment target for the fiscal year 2023-24, as it focuses on divesting from identified companies like IDBI Bank, SCI, and IREDA.

Next Story
Infrastructure Urban

CNH India marks production milestone: 700,000 tractors in Greater Noida

CNH " a global leader in agriculture with its New Holland and Case IH brands " marks the production milestone of 700,000 tractors at its manufacturing site in Greater Noida. The plant produces approximately 2,000 tractor variants, ranging from 35 to 120 horsepower across the two brands. Gerrit Marx, the new CEO of CNH attended the milestone ceremony during his recent visit to India  affirming the Company's commitment to this market and its continued growth. Since commencing production in 1999, the site has expanded its capacity to produce 60,000 tractors annually. Currently, the Greater ..

Next Story
Infrastructure Urban

Ecom Express strengthens leadership team

Ecom Express, a technology-driven end-to-end logistics solutions provider, announces the appointment of two senior executives to bolster its leadership team. Jitendar Kumar joins the Ecom Express team as the Chief Business Officer, while Abhinav Imandi takes on the role of Senior Vice President - Operations, Process Excellence and Alternate Channels. Speaking on the appointment of the new Chief Business Officer, Ajay Chitkara, CEO & MD, Ecom Express, said, "Jitendar's extensive experience in driving business growth and his strategic thinking will be instrumental in achieving our growth object..

Next Story
Infrastructure Transport

Railway Board Approves Elevated Track on Anwarganj-Mandhana Route

The Railway Board has given the green light for the construction of an elevated track on the Anwarganj-Mandhana rail route, part of the North Eastern Railway (NER). This project is set to ease the daily commute for approximately 40 lakh people who currently navigate 17 railway crossings between these two stations. The announcement was confirmed in a letter from the Railway Board to the General Manager of NER. The construction, estimated to cost Rs 9.94 billion, will feature an elevated ramp starting at the Jareeb Chowki crossing and descending at Mandhana, covering a span of 15 km. Chief Publi..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000