Steel Exchange India Secures ₹210 Crore Conversion Contract from RINL
The management of Steel Exchange India Limited believes that this contract will lead to better capacity utilization and increased revenues for the company
Alpha Desk
July 21, 2025 / 12:51 IST
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Steel Exchange India Limited (SEIL) has been awarded a conversion contract from Rashtriya Ispat Nigam Limited (RINL) to convert 1.20 lakh tons per annum of billets into Vizag Steel TMT rebars. The contract, valued at up to ₹210 crore, spans two years and is extendable by another year with mutual consent.
Contract Details
Particulars
Details
Name of the entity awarding the order
Rashtriya Ispat Nigam Limited (RINL)
Nature of the order
Conversion of billets into Vizag Steel TMT rebars
Conversion Capacity
1.20 lakh Tons Per Annum
Contract Type
Domestic
Contract Duration
2 years, extendable by 1 year with mutual consent
Broad commercial consideration
Up to INR 210 Cr (Up to INR 70 Cr PA for 3 Years)
Operational Impact
The conversion work will be conducted at Steel Exchange India's existing new rolling mill, enhancing capacity utilization and boosting revenue. This contract enables the company to convert billets into various sizes of TMT Bars under the Vizag Steel brand.
Strategic Significance
This contract with RINL, a public sector company, marks a significant achievement for Steel Exchange India, demonstrating its capabilities in steel conversion. The collaboration is expected to enhance SEIL's market position and operational efficiency.
Management Commentary
The management of Steel Exchange India Limited believes that this contract will lead to better capacity utilization and increased revenues for the company. The company is committed to fulfilling the terms of the contract and delivering high-quality TMT bars.
Regulatory Disclosures
The company has confirmed that the promoter/promoter group/group companies have no interest in the order/contract. Additionally, the order/contract does not fall within related party transactions and is conducted at arm's length.
