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Pratim Ranjan Bose

Kolkata , April 13

THE Union Steel Ministry has called for a meeting of all stakeholders in Neelachal Ispat Nigam Ltd (NINL) in the latter half of this month to discuss SAIL's proposal to pick up a `strategic equity stake' in the company.

Following the approval of the stakeholders, the Ministry would place the proposal before the Committee of Secretaries.

The 1.1-million-tonne venture is jointly promoted by the Mining and Mineral Trading Corporation (MMTC) and the Orissa Government.

Stating that things are moving fast and steady in regard to NINL, sources in the Steel Ministry told Business Line that though SAIL had held a round of discussions with the Neelachal stakeholders, a decision was still awaited on the percentage of stake to be offered to SAIL. "We expect them to arrive at a consensus shortly".

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