After raising Rs 248 crore in FY25 through asset monetisation, debt-laden RINL targets additional land sale to kick-start a revival. Proceeds from the asset sales will go to RINL and not to the Centre, it is learnt.
The Cabinet Committee on Economic Affairs, chaired by PM Modi, approved the revival plan for RINL for Rs 11,440 crore
Brokerage analyst Centrum Broking sees the news report as "big positive" for SAIL as it will help to fast track expansion at minimum capex and drive future earnings growth and lead to value unlocking.
The battle for fair wages has been choking RINL’s coking coal supply for more than a month, making the decades-old steelmaker struggle to meet statutory payment obligations.
RINL, the corporate entity of Visakhapatnam Steel Plant, has reported losses for most of the years since FY16 with losses exceeding Rs 3,000 crore in FY23.
The Union government has set a target of Rs 51,000 crore from disinvestments in the financial year 2023-24