Rashtriya Ispat Nigam (RINL) is keen to acquire Neelachal Ispat Nigam (NINL).
RINL is holding discussions with MMTC for reaching an agreement on the
valuation of the shares NINL for acquisition by RINL-VSP (Vizag Steel lant). The
issues involved in the process of valuation are being put up to the Union
Government for its consideration and approval.
MMTC and the Orissa Government are the promoters of NINL. MMTC holds about 50
per cent of shares of NINL.
NINL has seven mtrs tall coke oven battery of 67 ovens with dry quenching and
power generating facility, raw material handling plant, sinter plant, a blast
furnace of 1.1 million tpa and a 62 MW power plant.