Government seeks proposals to privatise NMDC's Steel Plant

05 Dec 2022 CW Team

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.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..