Tata Steel Long Products has won the bid to acquire Neelachal Ispat Nigam Ltd (NINL) for around Rs 12,100 crore at a time when the steel sector is going through an upturn. Neelachal Ispat Nigam Ltd (NINL) is a steel plant located in Kalinganagar in Odisha and was shut in March 2020 due to continued losses. It has a capacity of 1.1 million tonnes a year.
NINL is a joint venture of 4 CPSEs — MMTC, NMDC, BHEL, MECON and 2 Odisha Government PSUs — OMC and IPICOL.
