{"id":9074,"date":"2020-01-09T05:14:57","date_gmt":"2020-01-08T23:44:57","guid":{"rendered":"http:\/\/udaen.info\/?p=9074"},"modified":"2020-01-09T05:14:57","modified_gmt":"2020-01-08T23:44:57","slug":"cabinet-approves-in-principle-strategic-disinvestment-of-equity-shareholding-of-minerals-metals-trading-corporation-limited-national-mineral-development-corporation-mecon-and-bha","status":"publish","type":"post","link":"https:\/\/udaen.info\/?p=9074","title":{"rendered":"Cabinet approves \u2018In Principle\u2019 strategic disinvestment of equity shareholding of Minerals &#038; Metals Trading Corporation Limited, National Mineral Development Corporation, MECON and Bharat Heavy Electricals Ltd. in Neelachal Ispat Nigam Limited. a JV Company with two Government of Odisha State PSUs"},"content":{"rendered":"<div>Cabinet approves \u2018In Principle\u2019 strategic disinvestment of equity shareholding of Minerals &amp; Metals Trading Corporation Limited, National Mineral Development Corporation, MECON and Bharat Heavy Electricals Ltd. in Neelachal Ispat Nigam Limited. a JV Company with two Government of Odisha State PSUs<\/p>\n<\/div>\n<div>\n<p>The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi has given &#8216;in principle&#8217; approval for strategic disinvestment of equity shareholding of Minerals &amp; Metals Trading Corporation Limited (MMTC) (49.78%), National Mineral Development Corporation (NMDC) (10.10%), MECON (0.68%) and Bharat Heavy Electricals Ltd. (BHEL) (0.68%) and two Odisha State Government PSUs namely; Industrial Promotion and Investment Corporation of Odisha Ltd.(IPICOL) (12.00%) and Odisha Mining Corporation (OMC) (20.47%) in Neelachal Ispat Nigam Limited (NINL) to a strategic buyer, identified through a two-stage auction procedure. NINL is a Joint Venture company, in which four CPSEs namely MMTC, NMDC, BHEL and MECON and 2 State PSUs of Odisha Government, namely IPICOL and OMC are shareholders.<\/p>\n<p>The proposed strategic disinvestment of NINL would unlock resources to be used to finance the social sector\/developmental programmes of the Government benefiting the public. It is also expected that the successful strategic buyer may bring in new management\/technology\/investment for the growth of the company and may use innovative methods for the development of the business operations of the company, which may generate more employment opportunities<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cabinet approves \u2018In Principle\u2019 strategic disinvestment of equity shareholding of Minerals &amp; Metals Trading Corporation Limited, National Mineral Development Corporation, MECON and Bharat Heavy Electricals Ltd. in Neelachal Ispat Nigam Limited. a JV Company with two Government of Odisha State PSUs The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/udaen.info\/index.php?rest_route=\/wp\/v2\/posts\/9074"}],"collection":[{"href":"https:\/\/udaen.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/udaen.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/udaen.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/udaen.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9074"}],"version-history":[{"count":1,"href":"https:\/\/udaen.info\/index.php?rest_route=\/wp\/v2\/posts\/9074\/revisions"}],"predecessor-version":[{"id":9075,"href":"https:\/\/udaen.info\/index.php?rest_route=\/wp\/v2\/posts\/9074\/revisions\/9075"}],"wp:attachment":[{"href":"https:\/\/udaen.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/udaen.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/udaen.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}