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of <h1>Tata Steel Long Products Wins Bid to Acquire 93.71% of Neelachal Ispat Nigam Ltd. for Rs. 12,100 Crore.</h1> A strategic buyer has been approved for the privatization of Neelachal Ispat Nigam Ltd. (NINL), a joint venture of several central and state public sector enterprises. Tata Steel Long Products Limited won the bid to acquire 93.71% of NINL's shares for Rs. 12,100 crore. NINL, which has been closed since March 2020 due to significant financial losses and debts exceeding Rs. 6,600 crore, will benefit from this privatization. The transaction aims to revive the plant, introduce modern technology, and create jobs, with employee dues prioritized in the settlement process. The Government of Odisha actively supported the privatization process.
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