Govt may invite financial bids for privatising NMDC Steel

20 Jun 2023 CW Team

Following the activation of the Chhattisgarh blast furnace, the Centre is expected to request financial bids for NMDC Steel, according to officials quoted by news agency PTI. Once the blast furnace is running, the officials anticipate that the company's value will increase. The annual production capacity of NMDC Steel is anticipated to be 3 million tonnes.

The largest iron ore producer in India, NMDC Steel Ltd (NSL), was separated from NMDC, and the government now owns 60.79 percent of it.

In Chhattisgarh's Nagarnar, the facility is situated. The public owns the final 39.21% of the stock. The Centre is anticipated to sell management control and 50.79 percent of its stock. For the corporation, the government had received a number of preliminary bids or expressions of interest.

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