Govt may invite financial bids for privatising NMDC Steel

Following the activation of the blast furnace at Chhattisgarh, the centre is expected to apply for financial bids for NMDC Steel, according to officials quoted by pti news agency. Once the blast furnace is up and running, officials expect the company's value to increase. NMDC Steel's annual production capacity is expected to be 3 million tonnes.

India's largest iron ore producer, NMDC Steel Ltd (NSL), was separated from NMDC and the government now owns 60.79 percent of it.

The facility is located in Chhattisgarh's Nagarnar. The public owns the last 39.21% of the shares. The Center is expected to sell management control and 50.79 percent of its shares. For the corporation, the government had received a number of preliminary bids or expressions of interest.

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