Seems as though the ministry has had enough of the d*cking around and lets hope Verna is a white knight and
1. Starts pushing the envelope 2. Actually likes the NMDC/LCY arranagement
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Steel ministry to review MoUs and JVs of SAIL, RINL, NMDC - June 4
It is reported that the steel ministry will take a review of the MoUs and JVs inked by PSUs under its administrative control.
Sources close to the development said that the Indian steel minister, Mr Beni Prasad Verma, will review on June 5 the status of the MoUs and JVs signed by SAIL, RINL, NMDC and others.
The meeting assumes importance, particularly for ICVL as CIL and NTPC have already expressed their intention to exit from the five member consortium of state run firms. Incidentally, the three remaining PSUs SAIL, RINL and NMDC are under the administrative control of the steel ministry.
In the event of CIL and NTPC’s exit from the consortium, the Steel Ministry plans to distribute their respective stakes of 28 per cent and 14 per cent among the three remaining members and not to induct a new partner, the sources said.
LCY Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
