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 Transport

17 Sep 2025

Titagarh Rail Systems Launches Third Diving Support Craft for Indian Navy

Titagarh Rail Systems (TRSL) marked another milestone in its shipbuilding journey with the launch of the third indigenously built Diving Support Craft (DSC) for the Indian Navy. The vessel is part of a series of five DSCs being constructed by TRSL under the Ministry of Defence’s Make in India initiative.The launch ceremony was graced by Kangana Berry, wife of Vice Admiral Suraj Berry, AVSM, NM, VSM, Commander-in-Chief, who performed the traditional naming and launch. The vessel was side-launched into the Hooghly River at 16:10 hrs.Diving Support Crafts are catamaran-type vessels designed wit..

Concord Control Systems Secures First Kavach 4.0 Order via Progota India

Concord Control Systems (CNCRD), a leading manufacturer of embedded electronic systems and critical electronic solutions, has secured its first order for Kavach 4.0 through associate company Progota India. Valued at Rs 190.45 million, the order represents the start of large-scale implementation opportunities for advanced railway safety systems in India.With this milestone, Concord will become one of the few railway companies to have a fully developed Kavach system approved for supply to Indian Railways. The next-generation Kavach has successfully advanced through the stringent approval journey..

Awfis Delivers 67,000 sq ft Innovation Hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the country’s first publicly listed workspace solutions platform, has added eBay to its growing list of prestigious global capability centre (GCC) clients. Awfis has designed, built, and will manage a ~67,000 sq ft innovation hub for eBay at Embassy Tech Village, Bengaluru, supporting the e-commerce leader’s AI-first commerce strategy.The new centre will function as a strategic hub, advancing artificial intelligence, engineering, product development, and applied research, while further strengthening eBay’s growth in..