The proposal to combine SAIL and Neelachal Ispat Nigam (NINL) has been cancelled as the Ministry of Commerce is not willing to give away NINL.
In a recent meeting with the Department of Disinvestment, the Commerce Ministry has conveyed its message that it is not ready to give away NINL. MMTC, which falls under the administrative control of the Commerce Ministry, is the principal promoter of NINL.
A Committee of Secretaries had given the go-ahead to the proposal in July 2005. NINL runs a 1.1 million tpa steel plant in Orissa. Industrial Promotion and Investment Corporation of Orissa also has stake in NINL.