+
Government seeks proposals to privatise NMDC's Steel Plant
Steel

Government seeks proposals to privatise NMDC's Steel Plant

The government released a solicitation for the strategic sale of the Nagarnar Steel Plant owned by NMDC. According to the Department of Investment and Public Asset Management (DIPAM), the deadline for NMDC Steel Ltd. offers is January 27, 2023, while the deadline for questions is December 29, 2022.

NISP is now being separated from NMDC and incorporated as NMDC Steel Ltd. (NSL). Shares of NSL will be listed on BSE, National Stock Exchange of India Limited, and Calcutta Stock Exchange following the demerger.

Government of India (GoI) shareholding will be 60.79 percent and public shareholding will be 39.21 percent for NSL, mirroring NMDC's shareholding.

After that, the GoI will use a two-stage competitive bidding process to sell its 50.79 percent ownership of NSL to a strategic buyer along with management control.

On October 6, 2022, the Ministry of Corporate Affairs (MCA) already approved the demerger scheme.

According to the DIPAM, the GoI is initially seeking expressions of interest from potential buyers for the sale of its 50.79 percent stake in NSL.

A 3-million tonne per year (MTPA) NMDC Iron and Steel Plant (NISP) is being built by NMDC in Chhattisgarh near Jagdalpur. The NISP is currently under construction and should be operational by March 2023.

The demerger of NISP from NMDC and strategic disinvestment of the emerging business by selling the entire interest of the Indian government were both approved by the Union Cabinet in principle in October 2020.

As a result, GoI decided to sell its 50.79 percent stake in NMDC Steel Ltd, as well as management control. Furthermore, after the strategic buyer is identified through the bidding process, the GoI will offer NMDC a 10% stake in NMDC Steel.

See also:
Tata Group firm TSLP completes purchase of Neelachal Ispat
Tata Steel, ArcelorMittal-Nippon Steel may not bid for NMDC facility


The government released a solicitation for the strategic sale of the Nagarnar Steel Plant owned by NMDC. According to the Department of Investment and Public Asset Management (DIPAM), the deadline for NMDC Steel Ltd. offers is January 27, 2023, while the deadline for questions is December 29, 2022. NISP is now being separated from NMDC and incorporated as NMDC Steel Ltd. (NSL). Shares of NSL will be listed on BSE, National Stock Exchange of India Limited, and Calcutta Stock Exchange following the demerger. Government of India (GoI) shareholding will be 60.79 percent and public shareholding will be 39.21 percent for NSL, mirroring NMDC's shareholding. After that, the GoI will use a two-stage competitive bidding process to sell its 50.79 percent ownership of NSL to a strategic buyer along with management control. On October 6, 2022, the Ministry of Corporate Affairs (MCA) already approved the demerger scheme. According to the DIPAM, the GoI is initially seeking expressions of interest from potential buyers for the sale of its 50.79 percent stake in NSL. A 3-million tonne per year (MTPA) NMDC Iron and Steel Plant (NISP) is being built by NMDC in Chhattisgarh near Jagdalpur. The NISP is currently under construction and should be operational by March 2023. The demerger of NISP from NMDC and strategic disinvestment of the emerging business by selling the entire interest of the Indian government were both approved by the Union Cabinet in principle in October 2020. As a result, GoI decided to sell its 50.79 percent stake in NMDC Steel Ltd, as well as management control. Furthermore, after the strategic buyer is identified through the bidding process, the GoI will offer NMDC a 10% stake in NMDC Steel. See also: Tata Group firm TSLP completes purchase of Neelachal IspatTata Steel, ArcelorMittal-Nippon Steel may not bid for NMDC facility

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code