Cabinet approves demerger of Nagarnar Steel Plant from NMDC; Rs 5,718 cr project for school education



a man in a blue shirt: Cabinet approves demerger of Nagarnar Steel Plant from NMDC; Rs 5,718 cr project for school education


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Cabinet approves demerger of Nagarnar Steel Plant from NMDC; Rs 5,718 cr project for school education

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has given its approval to the demerger of Nagarnar Steel Plant (NSP) from National Minerals Development Corporation (NMDC) Ltd and strategic disinvestment of the demerged company (NSP) by selling government’s entire stake in it to a strategic buyer, Union Minister Prakash Javadekar said on Wednesday.

With the approval, CCEA has amended its earlier decision taken on October 27, 2016, to disinvest Nagarnar Steel Plant as a unit of NMDC. The process of demerger and disinvestment will be started in parallel and disinvestment of demerged company (NSP) is expected to be completed by September 2021, CCEA said.

NSP is a 3 million tonnes per annum (mta) integrated steel plant being set up by NMDC at Nagarnar in

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