By Our Correspondent
NEW DELHI/BHUBANESWAR: A delegation of Neelachal Ispat Nigam Limited Executive Association led by president Avijd Koley and General Secretary Ajit Kumar Pradhan has met Union Steel Minister RCP Singh at Udyog Bhawan in New Delhi and apprised him about the plight of the employee and workers of NINL due to closer of plant since past several months. The NINL Executive Association reiterated its demand of merger of NINL with SAIL/RINL/NMDC instead of disinvestment.
Neelachal Ispat Nigam Limited (NINL) is a Joint Venture company of 4CPSEs namely MMTC Limited (49.78%), NMDC Limited (10.10%), Bharat HeavyElectrical Limited (BHEL) (0.68%) and MECON Limited(0.68%) and 2 State PSUs ofOdisha Government, namely, Industrial Promotion and Investment Corporation ofOrissa Ltd. (IPICOL) (12%) and Odisha Mining Corporation Limited (OMC) (20.47%).
“On behalf of NINL fraternity we convey our heartfelt thanks for spa:ing your valuable time & also we regards convey our for operationalizing our Captive Mine through NMDC, under your ministry. Following is for your kind necessary intervention perusal & Non-operation of an integrated steel plant since 2019, has not added any value rather depreciation of national assets Forceful stoppage of a running plant by promoters is a vindicated decision due to declaration of disinvestment which has a huge detrimental effect on plant’s health,” NEA in a memorandum to Union Steel Minister said.
“1st Phase of NINL started functioning in 2002 &2″ Phase of expansion was taken up in the point year 2013. However at no of time, the Mines grantedlallotted to NINL since 1999 was explored. Presently a step has been taken to start commercial production from NINL captive mine with technical& financial help of NMDC. Auction of 4000 MT Iron Ore has been completed and another 16000 MT is under negigible process, but this will be a amount to meet employees’ huge long pending arrears, salary,” it said.
“Blast Furnace Capital Repair has been completed in Apr 2018 with enhanced hot metal Commercial production of Captive Iron Ore Mine has production. been started. But selling Iron Ore of its captive mine to outside market, the profit margin is very less.It will be reasonable & logical to start Pig Iron production using iron ore from own mine & cemmercial sell of iron ore These steps will increase profitability; present steel market is also demandable.When MMTC the managing promoter of NINL is reluctant to promote NINL & disinvestment a lengthy uncertain processit will be best alternative to entrust NINL to either NMDC or leading steel PSU SAIL for immediate resumption of plan production to avoid further degradation of national asset. By making a long term contract with a steel PSU for selling of iron ore or by restructuring the existing loan plant production may immediately be resumed,” the Association said.
“Hence we request your good self for your intervention to save the glorious asset, NINL considering the livelihood of 10000 families mainly of local population including near about 1000 weaker displaced and land looser mostly Adivasi and section of the society by immediately resuming plant production entrusting NINL to SAIUNMDC/RINL any steel PSUs,” it added.
