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MD Mehta: NINL, once home to snakes, now operates at full capacity
The Business Guardian
|December 26, 2023
Snakes and scorpions roamed the premises of NINL, surrounded by bushes, and the plant machinery was rusted, as per Sudhir Kumar Mehta, the MD & CEO, recalling the challenges faced in restarting the ailing unit within a prescribed 90-day timeframe.
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The company, previously in debt, is now financially stable, having generated a revenue of approximately Rs 3,000 crore in the April-September period of the current fiscal year.
On 4 July 2022, Tata Steel successfully acquired Odisha-based Neelachal Ispat Nigam Ltd (NINL), the first state-owned steel company divested by the government led by Narendra Modi. This was accomplished through Tata Steel Long Products (TSLP), a former subsidiary, for a consideration of Rs 12,100 crore.
Denne historien er fra December 26, 2023-utgaven av The Business Guardian.
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The Business Guardian
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1 min
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1 mins
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1 mins
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2 mins
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