Rinl

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.

Centre approves Rs 11,440-crore revival plan for debt-laden RINL

The Cabinet Committee on Economic Affairs, chaired by PM Modi, approved the revival plan for RINL for Rs 11,440 crore

SAIL shares rise after report of steel union proposing merging three companies with PSU major

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.

RINL losing Rs 40-50 crore revenue a day amid ongoing strike at Adani's Gangavaram port

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.

What led VSP, India's first shore-based steel plant, to sell land?

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.

Vishakhapatnam Steel Plant divestment will not be completed in 2023-24: Fin Min

The Union government has set a target of Rs 51,000 crore from disinvestments in the financial year 2023-24

RINL extends deadline for submission of EoIs for new business model

In a first, the steel maker is exploring a business model wherein it will supply finished steel products to companies which will either fund its working capital or supply one or more raw materials.

RINL aims to make 55,000 wheels in FY24 to meet Railways' demand: CMD Atul Bhatt

Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) has set up a forged wheel plant at Lalganj, in Uttar Pradesh at an estimated cost of Rs 2,350-crore with a capacity to manufacture one lakh forged wheels per annum.

No proposal to merge SAIL, RINL under consideration, says junior steel minister

India has proposed selling 100 percent stake in RINL along with management control by way of privatisation, a proposal which has led to agitation by trade unions

After Tata Steel, AMNS India plans to bid for state-owned RINL

RINL is a special steel making company based in Visakhapatnam, Andhra Pradesh. The company, under the administrative control of the Ministry of Steel, operates a 7.3 million tonne (MT) steel plant in the state.

RINL expects Rs 1,000 crore from sale of 22-acre land in Vizag

On Thursday, state-run construction company NBCC had announced signing an MoU with Rashtriya Ispat Nigam Ltd (RINL) for redevelopment and monetisation of its 22.19 acres of land in Visakhapatnam.

Cabinet gives in-principle approval for 100% divestment in RINL

The state-run steelmaker has been reeling under losses over the past few years. It reported a loss of Rs Rs 1,369 crore in 2017-18 and Rs 3,910-crore loss in 2019-20.

RINL looks to begin commercial production of forged wheels at Rae Bareli unit next month

Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) has set up a plant in Rae Bareli at a cost of around Rs 1,680 crore with a production capacity of one lakh pieces of forged wheels per annum.

RINL, POSCO to form joint working group for Andhra Pradesh steel project

The South Korean steel major and state-owned RINL have been in talks for quite some time over their plans to set up a joint venture (JV) for manufacturing value-added special grade of steel.

South Korea's POSCO continues exploring JV possibility with RINL in Visakhapatnam

The South Korean steel major is looking to set up a joint venture with RINL in Visakhapatnam for manufacturing of value-added special grade of steel.

RINL CMD inaugurates projects worth Rs 3,000 crore at Vizag Steel Plant

Kaniti Balancing Reservoir-2 has been built to provide additional water storage facility to cater to the enhanced levels of production.

Committee set up for revival of SAIL, RINL: Vishnu Deo Sai

The committee consists of members from the Ministry of Steel, PSUs and technical experts, Minister of State for Steel Vishnu Deo Sai said in the Lok Sabha.

Domestic steel output up 4.6% at 8.5 MT in July

"During April-July 2017, crude steel production was 33.011 MT, a growth of 3.8 per cent over the same period of the last year," the Joint Plant Committee (JPC), under the Ministry of Steel, has said in its latest report.

RINL sees substantial growth in production this fiscal

"P Madhusudan, CMD, RINL commended the VSP collective for the achievements and expressed confidence that in the current financial year there will be substantial growth in production including from expansion units," steel ministry said in a statement.

India's steel industry out of stress,exports up by 56%: Govt

Steel Minister Chaudhary Birender Singh said the country's steel output is at around 120 million tonnes and the government is aiming to achieve 300 million tonnes by 2030.

Panel to fast-track ramping up steel PSUs modernisation

The government has set up a committee to suggest measures to fast-track the ramping up of modernisation of the steel sector public sector firms -- SAIL and RINL.

ICVL halts ops in Mozambique mine; to pump in more investments

The Board of Directors of ICVL had approved to stand guarantee for USD 150 million as capex loan to the beleaguered mine.

DGAD to soon recommend provisional anti-dumping duty on wire rod

Investigations were iniciated on imports of wire rods from China in June 2016. SAIL, RINL, Usha Martin and JSW filed a case for wire rod anti-dumping duty. Anti-dumping duty will be implemented once the Central Board of Excise and Customs (CBEC) notifies DGAD recomendations.

Steel Min approaches Coal Min for allocation of blocks to RINL

RINL's Vizag Steel Plant (VSP) has doubled its capacity to 6.3 million tonnes per annum (mtpa) and is in the process of raising it to 7.3 mtpa through modernisation and upgradation of its existing units. It also has a plan to increase capacity to up to 20 mtpa.

Steel imports have come down by 1/4th against FY15: Steel Min

According to data by Joint Plant Committee of the Steel Ministry, imports grew 71 percent to 9.321 million tonnes (MT) in 2014-15 compared to the previous fiscal, with India remaining a net importer in the previous fiscal.