Bhubaneswar: Iron Manufacturer of Nigam Limited (Ninl), which is located in the Kalinganagar in Jajpur Regency, which is in the process of being disinvestable by the center, has caused a loss of Rs 3,234 Crore in the past five years, the state government told assembly.
Year-wise loss issued by Ninl is Rs 1,766 Crore in 2019-20, RS 403 Crore in 2018-19, RS 375 Crore in 2017-18, RS 355 Crore in 2016-17, 2015, said the Industrial Minister Dibya Shankar Mishra inside Recent reply to the house.
Ninl, a joint venture from several Central and State PSU, turned off operations on March 27, 2020, due to financial losses.
While Central PSU MMTC holds a majority share of 49.78%, Odisha Mining Corporation and Industrial Promotion and Investment Odisha Company Ltd.
respectively accommodates 20.47% and 12% respectively.
Three other Central PSUS – NMDC, Mecon and Bhel – also hold small shares in the company.
NEELACHAL ISPAT NIGAM LIMITED ensures 3,000 losses of CR in 5 years
