The Cabinet Committee on Economic Affairs, CCEA has given in-principle approval for the sale of equity held by four Central Public Sector Enterprises and two-state PSUs in Neelachal Ispat Nigam Limited-NINL.

It has approved strategic disinvestment of 49.78 per cent equity shareholding of Minerals and Metals Trading Corporation Limited and 10.10 per cent of National Mineral Development Corporation. 

The CCEA gave approval for strategic disinvestment of 0.68 per cent of MECON and Bharat Heavy Electricals Limited each. 12 per cent disinvestment in Industrial Promotion and Investment Corporation of Odisha Limited and 20.47 per cent in Odisha Mining Corporation in have also been approved.

NINL is a Joint Venture company, in which these six companies are shareholders.

The proposed strategic disinvestment of Neelachal Ispat Nigam Limited will unlock resources to be used to finance the social sector and developmental programmes of the Government benefiting the public.