Cabinet Decisions: Government Allows Six PSUs To Sell Stakes In Neelachal Ispat
A dumper truck loaded with excavated iron ore rock exits an iron ore mine. (Photographer: Vincent Mundy/Bloomberg)

Cabinet Decisions: Government Allows Six PSUs To Sell Stakes In Neelachal Ispat

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The Union Cabinet on Wednesday approved a proposal to divest equity shares of six public sector undertakings, including MMTC Ltd., in Neelachal Ispat Nigam 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 in New Delhi on Wednesday.

The six PSUs are MMTC, NMDC Ltd., Bharat Heavy Electricals Ltd., Odisha Mining Corporation, Odisha Investment Corporation and MECON Ltd., he said.

MMTC will sell 49 percent in Neelachal Ispat, while that of Odisha Mining Corporation 20 percent, Odisha Investment Corporation 12 percent, NMDC 10 percent.

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