Indian government considers merging struggling KIOCL with NMDC to boost financial health.
The Indian government is considering merging KIOCL, a struggling state-owned company that makes iron-oxide pellets and operates a blast furnace, with NMDC, a major iron ore supplier. The merger, announced by Union Steel Minister HD Kumaraswamy, aims to improve KIOCL's financial health and operational efficiency. KIOCL's struggles stem partly from a lack of cooperation from the Karnataka state government.
2 months ago
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