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
Tag: RINL
Post
Post
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
Post
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
Post
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
Post
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
Post
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
Post
Sales of SAIL falls 2.71% in April-Dec 2012
Data from union steel ministry reveals that sales of Steel Authority of India (SAIL) contracted 2.71 per cent during April-December 2012 to 76.03 lakh tonne from 78.15 lakh tonne in the year ago period. Similarly, sales of Vizag-based Rashtriya Ispat Nigam (RINL) also fell over 17 per cent to 17.86 lakh tonne compared to 21.63 lakh tonne reported during this perio
Post
Revival in demand enables steel firms to hike prices
Industry watchers feel that demand for steel has improved recently and this enabled steel makers to raise price of their products. It is learnt that there has been a five to seven per cent price hike in both flat and long steel products on a year-on-year basis. Rashtriya Ispat Nigam (RINL) increased rates by Rs 500 per tonne this month when it followed most of the
Post
RINL chief informs delay in expansion project
AP Chowdhary, Chairman and Managing Director of the Rashtriya Ispat Nigam (RINL) informed that there was some delay in the execution of the expansion project of the firm from 3 million tonne to 6.3 million tonne. He said this while delivering the key-note address at the inaugural session of the one-day seminar on eme
Post
Sales of RINL rises 5% in Nov
According to a company statement, sales of Rashtriya Ispat Nigam (RINL) grew 5 per cent to Rs 1,085 crore in November from Rs 1,028 crore in the year-ago month. During the month, sales of iron and steel registered a growth of six per cent, while pig iron sales expanded 48 per cent.According to the statement, the company is increasing its prese