Govt approves strategic buyer for Neelachal Ispat Nigam Limited

Government has approved strategic buyer for Neelachal Ispat Nigam Limited located in Odisha. Secretary, Department of Investment and Public Asset Management, Tuhin Kanta Pandey has said that the highest bid of 12,100 crore rupees by Tata Steel Long Products Limited is accepted. Finance Ministry said, this is the first instance of privatization of a public sector steel manufacturing enterprise in India. The success of the transaction is a win-win situation for all.