There is a need to improve the operation process in steel companies in order to reduce cost of production, AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) said in an event. He said the cost of production could be largely reduced through improvement in techno-economic parameters, such as specific energy consumption, raw mat
Tag: Rashtriya Ispat Nigam
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Weak demand hits sales revenue of RINL
Owing to weak demand for steel during large part of 2012-13, Rashtriya Ispat Nigam (RINL) posted 5.8 per cent decline in sales revenue at Rs 13,650 crore during the year compared to Rs 14,450 crore in the previous year. But the firm managed to post 45 per cent growth in export revenue at Rs 601 crore and 15 per cent increase in rural sales during the previous fiscal year
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Panel suggests merger of SAIL and RINL
In order to create a steel company of global scale and bring down costs of production, the Committee on Public Undertakings suggested the merger of state-owned steel giants Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL). In a recent report, the panel, which is a body of Lok Sabha members, asked the government to specify clearl
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Govt encourages latest technologies in steel sector
The Minister of Steel, Beni Prasad Verma has said that government through its policies has been pursuing adoption of latest technologies for improving efficiency of Indian steel industry. The report of the Working Group on Steel Industry for the 12th Five Year Plan, National Steel Policy and Roadmap for R&D and Technology etc. enlist such meas
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Ore shortage has not affected output in PSU firms
Production of state-run steel companies - Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) - is not affected owing to scarcity of iron ore or coking coal. Minister of State for Commerce & Industry, D Purandeswari informed the Lok Sabha. SAIL has been alloca
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Govt aims to raise India’s ranking in steel output
AP Choudhary, CMD of Rashtriya Ispat Nigam (RINL) informed that government plans to raise India's global ranking in steel production to second from the present fourth position by 2020. India currently produces 71 million tonne (mn t) of steel per annum and is placed at the fourth position, China occupies the first position with over 600 mn t per annu
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Minister rules out recast of loss-making units
Union Minister of Steel, Beni Prasad Verma ruled out any question of revival or restructuring of loss making plants or units of Steel Authority of India (SAIL). He argued that although some plants or units of SAIL have reported losses, SAIL on the whole is making net profit and hence there is no case for revival or restr
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SBI lends Rs 62 bn to Visakhapatnam Steel Plant
Visakhapatnam Steel Plant borrowed Rs 6,200 crore from the State Bank of India (SBI) in order to finance its business expenditure. Speaking to reporters, Pratip Chaudhuri, Chairman of SBI said the bank's loan to the RINL “is the biggest contribution it is making to the industrial development of this
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RINL mulls Rs 20 bn investment in FY14
Agency reports suggest that Rashtriya Ispat Nigam (RINL) would invest Rs 2,000 crore in 2013-14 if it secures a captive iron ore mine in Andhra Pradesh. If it fails to secure a captive mine in Andhra Pradesh, the corporate entity of Vizag Steel would invest Rs 1,200 crore on capital expenditure for 2013-14, agency reports quoted a top official of the firm as sayin
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Reports suggest possible rise in steel prices
Agency reports quoted officials from some public sector steel firms as saying that domestic steel prices may recover going forward because of improving demand and rising global prices. While state-run Rashtriya Ispat Nigam (RINL) is among the few domestic firms that had effected price hikes, Steel Authority of India (SAIL) expects to raise price