New Delhi: Opposing privatisation and merger of Neelachal Ispat Nigam Limited (NINL) with any other PSU, the Neelachal Banchao Milita Mancha Tuesday decided to submit a memorandum to Prime Minister Narendra Modi, Union Steel Minister Dharmendra Pradhan and Union Commerce Minister Piyush Goyal.
In the memorandum, the outfit has mentioned that since 2005 there have been talks of merger of NINL with the other public sector undertakings (PSUs) like SAIL and RINL. SAIL was keen to pick up equity in NINL and invest Rs 12,000 crore during 2005-07 but the process was stalled by MMTC citing undervaluation. In August 2014, Union Minister of Steel and Mines announced that the Central government is considering the issue of merger of NINL with SAIL as proposed by the Chief Minister of Odisha. However, the MMTC, during late 2014, announced expansion proposals of Rs 25,000 crore to Rs 30,000 crore and full capacity expansion to six million tonnes in two phases by 2025.
The Mancha demanded that there should not be privatisation and merger of NINL with other steel producing units of government. It also demanded infusion of working capital for commencing production, resumption of payment of wages and salaries of employees.
Addressing a press conference at the Congress office here, Senior Odisha Congress leader Ramchandra Khuntia said the government should invest around Rs 600 crore in the NINL. The government should not go for privatisation of NINL as it will hit around 6,000 employees associated with company. The company now needs investment, he added.
Outfit convener Ranjan Kumar said, “If the government does not accept our demands, we will hold protest in front of the Parliament.”