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

31 May 2023 CW Team

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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..