Page 2 - Rinl

RINL, NMDC production hit as workers remain on strike for 2nd day: Union

Thousands of workers of state-owned RINL and NMDC boycotted work for a second day on Tuesday as part of the nationwide strike, affecting steel production and mining operations, a union leader said.

About 35,000 SAIL, RINL, NMDC workers boycott work on 2nd day of strike

About 35,000 workers of state-owned SAIL, RINL and NMDC continued to boycott work on Tuesday as part the nationwide strike, affecting production at steel plants and mines.

Bank operations hit; SAIL, NMDC staff join Bharat Bandh

The Kerala High Court on Monday directed the LDF administration to forthwith issue orders preventing its STAFF from abstaining from duty as part of the two-day strike

Govt invites bids from firms for valuing assets of privatisation-bound RINL

The last date for putting bids is April 4.

RINL flags off its first 51 loco wheels shipment to Indian Railways

The first dispatch of 51 loco wheels was flagged off to Lucknow workshop of the Indian Railways

Reliance Industries eyes first oil cargo from UAE trade arm in Dec: Report

The Indian conglomerate aims to get about a 500,000 barrels of cargo of United Arab Emirates' Das crude from RINL

EY burnishes its credentials with successful Air India sale to Tatas

With the Air India deal closed, the team at EY is gearing up for more government asset sale programmes

Top headlines: Small firms on I-T radar, race for steel supremacy, and more

Business Standard brings you the top headlines at this hour

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

Govt extends bidding deadline for RINL transaction advisors till Aug 26

This is the second extension given for transaction advisors

Govt extends bidding deadline for transaction for RINL till Aug 17

The government on Tuesday extended the deadline till August 17 for merchant bankers and legal advisors to bid for managing strategic sale of RINL. The earlier deadline for submitting bids was July 28. The Department of Investment and Public Asset Management (DIPAM) had on July 7 floated the Request for Proposal (RFP) for appointing transaction and legal advisors. The government would appoint one transaction advisor from reputed merchant bankers or consulting firm for providing advisory services to DIPAM and managing the strategic disinvestment of government's stake in RINL, along with RINL's stake in its subsidiaries/joint ventures. It would also appoint one law firm as legal advisor for facilitating the transaction. The Cabinet Committee on Economic Affairs (CCEA) on January 27 gave its 'in-principle' approval for 100 per cent disinvestment of government stake in Rashtriya Ispat Nigam Ltd (RINL), also called Visakhapatnam Steel Plant or Vizag Steel, along with RINL's stake in its

Steel minister Ram Chandra Singh reviews performance of RINL, 3 other PSUs

Union Steel Minister Ram Chandra Prasad Singh on Tuesday reviewed the performance of state-owned RINL, MSTC, KIOCL and MOIL, according to a release.

NBCC to submit project report on RINL's 22-acre land in Vizag by June-end

State-owned NBCC will submit the detailed project report (DPR) to RINL by month-end for the steel maker's 22.19 acre land in Visakhapatnam city, a popular tourist destination in Andhra Pradesh.

Centre's disinvestment plan: A stress test for zombie steel plants

The disinvestment of loss-making plants may likely attract interest from secondary steel makers rather than the big players

RINL privatisation prompts Posco to explore new locations for steel plant

Andhra govt has invited Posco to set up a unit at Krishnapatnam, but steel major has not taken a decision yet

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

State-owned RINL expects to garner Rs 1,000 crore from the sale of its 22.19 acre land located in the heart of Visakhapatnam city, a popular tourist destination in Andhra Pradesh

Trade unions and political parties oppose privatisation of RINL

: Hundreds of employees of Visakhapatnam Steel Plant on Friday took out a protest rally against the proposed divestment of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the steel- maker. The parties, including the ruling YSR Congress, supported the agitation. The protestors demanded that the Centre withdraw its proposal and save the steel plant as it is one of the biggest and profitablepublic sector undertakings in the state. The Union Cabinet had cleared the privatisation of Rashtriya Ispat Nigam Ltd (RINL), DIPAM (Department of Investment & Public Asset Management) Secretary Tuhin Kanta Pandey tweeted on February 3. The RINL strategic sale proceeds would be part of the disinvestment target for next fiscal. The government has budgeted Rs 1.75 lakh crore from disinvestment in 2021-22 fiscal beginning April 1. "The CCEA (Cabinet Committee on Economic Affairs) had, on January 27, 2021, given in-principle approval for 100% strategic disinvestment of the

Domestic steel industry showing signs of recovery as demand picks: RINL CMD

Due to the bad market conditions developed post outbreak of the virus, steel makers were forced to cut down their operations by up to 50 per cent in April

Steel companies step up oxygen supply across India to aid Covid-19 patients

In the last 40 days, RINL has supplied more than 4,000 tonnes of liquid oxygen to the local state administration, at an average of 100 tonnes a day

Govt asks RINL, POSCO to form joint working group for AP steel project

The JWG would meet regularly to expedite the implementation of the MoU, the ministry said.