Rashtriya Ispat Nigam Limited Privatisation Approved
RINL VSPWiki

Rashtriya Ispat Nigam Limited Privatisation Approved

India’s Union Cabinet has approved privatisation of Vizag based state owned public sector Rashtriya Ispat Nigam Ltd, in which the government currently

India’s Union Cabinet has approved privatisation of Vizag based state owned public sector Rashtriya Ispat Nigam Ltd, in which the government currently holds 100% stake. A government official said “While approving the strategic disinvestment of RINL a few days ago, the Cabinet delegated powers to the Alternative Mechanism headed by the Finance Minister to decide whether the subsidiaries of RINL will be part of the transaction, depending on the feedback from potential investors.”

RINL Subsidiaries

The Orissa Minerals Development Company Ltd

The Bisra Stone Lime Company Ltd

RINL JVs

RINMOIL Ferro Alloys Pvt Ltd

RINL Powergrid TLT Pvt Ltd

History of RINL - The decision to establish a Steel Plant at Visakhapatnam was announced in the Parliament in 1970 by the then Prime Minister Late Ms Indira Gandhi. The foundation stone for this massive project was laid in 1971. The Detailed Project Report was prepared in 1977. However, it was only in 1979 with the Government of erstwhile Soviet Union offering techno-economic cooperation, the cabinet approved the proposal for setting up of an integrated Steel Plant at Visakhapatnam. Following this, the comprehensive Revised Detailed Project Report was prepared adopting latest technologies available. However, the journey of Vizag Steel has not been very smooth. 22 long years between conception and commissioning resulted in an increase of project cost to over INR 8,500 crores. Visakhapatnam Steel Plant was initially set up with a rated capacity of 3.4 million tonnes of Hot Metal, 3.0 million tonnes of Liquid Steel and 2.7 million tonnes of Saleable Steel. RINL has completed the first phase of expansion to increase Hot Metal capacity to 6.5 million tonnes, Liquid Steel to 6.3 million tonnes & Saleable Steel to 5.7 million tonnes. RINL has started second phase of expansion to increase Liquid Steel capacity to 7.3 million tonnes by modernization & up gradation of existing iron & steel making units

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