Govt gives nod for sale of equity shares of 6 PSUs in Neelanchal Ispat

The Cabinet on Wednesday approved a proposal to divest equity shares of six PSUs, including MMTC, in Neelachal Ispat Ltd.

"The Cabinet has approved divestment of some shares of six companies held in Neelachal Ispat," Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting here.

The six PSUs are MMTC, National Mineral Development Corporation (NMDC), Bharat Heavy Electrical Ltd (BHEL), Odisha Mining Corporation, Odisha Investment Corporation and MECON, he said.

The minister further said MMTC will sell 49 per cent in Neelachal Ispat, while that of Odisha Mining Corporation 20 per cent, Odisha Investment Corporation 12 per cent, NMDC 10 per cent.