Rashtriya Ispat Nigam Ltd

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

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.

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

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.

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.

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

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.

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

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

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

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