India government receives multiple bids for privatization of NMDC Limited’s steel mill project

Monday, 30 January 2023 11:26:32 (GMT+3)   |   Kolkata

The Indian government has received multiple bids in response to an expression of interest (EoI) floated for the privatization of NMDC Limited’s 3 million mt per year capacity greenfield steel mill nearing completion in Chhattigarh state, a government official said on Monday, January 30.

“Multiple bids have been received for the strategic sale of 50.79 percent equity in NMDC Steel Limited. The transaction will now move into the second stage,” Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanti Pandey said in a statement.

The last date for submission of bids was January 27.

Though not officially disclosed yet, government sources said that virtually every major domestic steel player has submitted bids, with the bidders believed to include Tata Steel Limited, JSW Steel Limited, Adani Group, Vedanta Group and Jindal Steel and Power Limited.