<p>The state-owned steel firm Neelachal Ispat Nigam Ltd.’s Odisha factory had been closed for three years. On its 2,500 acres, rusted machinery, overgrown shrubs, and snakes and scorpions had taken up residence. When NINL was bought by Tata Steel via its erstwhile subsidiary Tata Steel Long Products (TSLP) for a payment of Rs 12,100 crore, it became the first state-owned steel company to be sold by the Narendra Modi administration. A 90-day revitalization effort and an additional Rs 250 crore came next. Since the purchase last year, the firm, which was drowning in debt and facing an uncertain future, has generated sales of Rs 4600 crore.</p>
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<p>According to MD and CEO Sudhir Kumar Mehta, who also disclosed the difficulties faced during the Tata Group’s resuscitation of NINL, the organization is headed toward financial health and operating at full throttle. They established a 90-day deadline. When Tata’s specialists entered the facility, they discovered a sick unit covered with several-foot-tall plants and crawling lizards, scorpions, and snakes. They came up with a thorough strategy, started clearing the land, and fixed the offices and structures. Broadband access was added to the newly renovated communication cables.</p>
<p>In August, Tata paid all of the former state-owned company’s workers in accordance with the agreement. NINL, which is situated in Kalinganagar and is about 120 kilometers from Bhubaneswar, the capital of Odisha, was given a fresh lease of life and is now able to resume producing one million tons of steel annually (MTPA). Technical and mechanical specialists from Tata Steel devoted their all to restarting the NINL blast furnace by October 2022 in order to resume operations at the complex at Kalinganagar, Jamshedpur, and Meramandali.</p>
<p>Tata invested an additional Rs 250 crore to restore the plant’s former splendor. 1,400 NINL workers were included in the group. Tata made significant investments in infrastructure and talent development and also established resources like a creche to support female workers who had kids. Before, NINL workers had employment, but they struggled to support their families, had little income, and faced an unclear future. They feel safe, are paid on time, and have high hopes for the company’s future.</p>
<p>NINL generated an income of almost Rs 1,600 crore between October 2022 and March 2023 as part of the turnaround success. It increased to Rs 3,000 crore between April and September of 2023. “NINL is poised to grow and form a very important part of Tata Steel group’s long product portfolio,” said TV Narendran, CEO and MD of Tata Steel.</p>
