Rashtriya Ispat Nigam Ltd

Steel ministry knocks on finance ministry's door for RINL support

The request to finance ministry is to help RINL continue as a going concern

India Ratings downgrades state-owned RINL's term loans to default grade

RINL's liquidity is poor because of low-to-negative EBITDA generation against its significantly high debt repayment obligations

Vizag Steel Plant restarts 'Blast Furnace-3' to raise hot metal production

The Rashtriya Ispat Nigam Ltd (RINL), which is also known as Vizag Steel Plant, on Saturday restarted its Blast Furnace-3 (BF-3) to raise hot metal production by 2 million tonne per annum. The added capacity will also enable the steel plant to clock increased sales turnover of Rs 500 crore per month. "The RINL has shown the world how to produce the best quality steel in spite of raw material crunch. This day is a historic day in the history of RINL as we have lit up the BF-3," said its chairman and managing director, Atul Bhatt, in a press release. Named 'Annapurna', symbolising abundance and prosperity, Bhatt exuded confidence that BF-3 would bring prosperity to the steel plant located in the port city. He was accompanied by other officials. The lighting up of BF-3 is aimed at reviving the fortunes of Vizag Steel Plant and rejuvenating its operations. The BF-3 has been down since January 2022 due to raw material shortage, said a steel plant official to PTI.

Ramp-up, asset monetisation to help turn around fortunes of RINL

Rs 3,000-4,000 crore expected from sales

Railways floats tender to procure 80,000 indigenous forged wheels a year

Invites industry to set up domestic manufacturing facility at estimated cost of Rs 1,000 crore

Centre cites policy to reject union's proposal to merge RINL with SAIL

Public sector undertakings (PSUs) in non-strategic sectors shall be considered for privatisation, or they shall be closed, said Minister of State Finance Bhagwat Karat in Rajya Sabha.

Rashtriya Ispat Nigam floats global tender for coking coal and PCI supply

The last date to submit bids is July 27, 2022 before 10:30 a.m, the Visakhapatnam-based steel PSU said

Production at RINL plant affected as 8,000 workers join nationwide strike

Around 8,000 workers of Rashtriya Ispat Nigam Ltd (RINL) did not report for work on Monday, affecting production at the company's 7.5 million tonnes-steel plant in Visakhapatnam, Andhra Pradesh.

Govt appoints Atul Bhatt as CMD of Rashtriya Ispat Nigam Ltd

Atul Bhatt has been appointed as chairman and managing director (CMD) of disinvestment-owned steel company Rashtriya Ispat Nigam Ltd (RINL), according to an official notification.

Race for steel supremacy begins with disinvestment plans for three units

Among the upcoming assets, Tata Steel is keen on participating in the bidding process for RINL

Tata Steel interested in acquiring Vizag-based RINL: CEO T V Narendran

Domestic steel giant Tata Steel is interested in acquiring state-owned Rashtriya Ispat Nigam Limited (RINL), the company's Chief Executive Officer (CEO) and Managing Director T V Narendran said.

Cabinet gives in-principle approval to privatise Rashtriya Ispat Nigam

The government currently holds 100 per cent stake in the maker of crude steel.

Smaller steel producers trail top six players in scaling up production

Shortage of iron ore, spike in input costs are the major impediments

Indian steel firms race to plug demand gap in China amid Covid-19 crisis

Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China.

RINL's Apr-Dec turnover zooms to Rs 114 bn

Last year in October, RINL had unveiled plans to produce 1 million tonne of special steel during 2017-18 with an eye on higher market share in the segment