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NINL Employees Not Paid Salary Since March - Report

Steel News - Published on Thu, 09 Jul 2020

Image Source: NINL
The Pioneer reported that while produced materials worth about INR 200 crore are lying in the premises of PSU Neelachal Ispat Nigam Limited, its employees are not getting salary during the worst period of Corona lockdown since March on the grounds of funds crunch. The NINL, which has its integrated steel plant in Kalinganagar of Jajpur is in a dire straits as its main shareholder Mineral and Material Trading Corporation is not coming to its rescue.

The NINL has capacity to produce 1.1 Million tonne steel per annum. So far share break-up is considered, the MMTC, which has 49.78 per cent share, the Nation Mineral Development Corporation has 10.1 percent share. The Odisha Government undertakings such as Odisha Mining Corporation has 20.47 percent share whereas IPICOL has 12 per cent. Other houses like BHEL, MECON have 7.65 per cent share in the PSU.

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Posted By : Yogender Pancholi on Thu, 09 Jul 2020
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