To modernise their set up and expand their operations, metal and mining PSUs-SAIL, NMDC and RINL plan to invest nearly Rs 15,000 crore next fiscal. Steel Authority of India (SAIL) will spend Rs 9,000 crore next fiscal, followed by iron ore miner NMDC Rs 4,345 crore and Rashtriya Ispat Nigam (RINL) Rs 1,600 crore to expand and modernise their operations.
Tag: Rashtriya Ispat Nigam
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Rashtriya Ispat to invest Rs 60,000 cr to up capacity
To triple its capacity to 20 million tonne by 2027, the government-owned steelmaker Rashtriya Ispat Nigam (RINL) or Vizag Steel in Visakhapatnam/Vizag is planning to invest Rs 60,000 crore. RINL is in the process of stabilising new units under the current phase of expansion that got delayed by over a year following an accident at its Vizag plant.
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RINL may rope in NMDC for Rs 20 bn STML project
Rashtriya Ispat Nigam' (RINL) may rope in either MOIL or NMDC for its Rs 2,000 crore joint venture project as BHEL is bot keen on the project. Earlier, BHEL and RINL planned to set up a seamless tube mill (STML) with an annual production capacity of four lakh tonne per annum. BHEL requested NMDC to join in the proj
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Domestic steel output stands at 19.61 mn t in Apr-Jun 2013
Union Minister of Steel Beni Prasad Verma informed the Lok Sabha that domestic production of crude steel in the first quarter of the current year stood at 19.61 million tonne. He further said that steel is a deregulated sector, the role of the government is that of a facilitator providing a conducive policy environment
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RINL, APMDC to ink pact on steel plant
AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) said the firm would enter into an agreement with the AP Mineral Development Corporation (APMDC) to set up an iron ore and steel plant at Bayyaram in Khammam. He informed reporters that the firm almost completed formalities with regard to the agreement. Meanwhile, Kudremukh Iron Ore Company (KIOCL) would invest about Rs 1,000 to Rs 1,500 crore to set up beneficiation and pellitization plants of 1.2 million tonne per annu
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Cabinet to consider chartering demands of SAIL, RINL
According to unconfirmed media reports, the union cabinet may decide on whether to allow Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) to charter hire vessels to import raw materials. Every year, the two firms together import around 14-15 million tonne of raw materials. As SAIL is expanding capacity to 23.46 million tonne per annum and RINL
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RINL seeks ore mine for proposed steel project
Jharkhand government received a request from the state-run Rashtriya Ispat Nigam (RINL) for allocating the over 2,600 acre Ghatkuri iron ore mine, located at the West Singhbhum district. The company wants the mine, which is estimated to have 600 million tonne reserves, for its proposed 3 million tonne per annum (mn tpa) steel plant
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RINL urges AP govt to seek ministry nod for mine allotment
Andhra Pradesh government received a request from AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) to seek the approval of the union ministry of mines for allocating Bayyaram iron ore mines at Khammam district. The company is learnt to have agreed to invest Rs 42,400 crore in the state and the state government agreed to facilitate allotment of iron ore mines to RINL on pr
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NMDC to decide on partnering with SAIL, RINL
At its board meeting in May, state-run miner NMDC is expected to take a final decision on partnering with either Steel Authority of India (SAIL) or Rashtriya Ispat Nigam (RINL) for its proposed steel project. It may be recalled that SAIL and RINL evinced interest to partner with NMDC on its proposed Rs 15,525-crore steel project at Nagarnar in Chhattisgarh
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RINL to expand capacity by raising debt
AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) said the firm plans to mop up Rs 400-500 crore through debt market in the near future. Speaking on the sidelines of a steel summit, he said the company plans to use the fund for expansion plans. But he did not disclose the timeline for the proposed fund raising plan