RINL revival plan approved with Rs 11,440 crore package

February 1, 2025

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The Cabinet Committee on Economic Affairs has approved a Rs 11,440 crore revival package for Rashtriya Ispat Nigam Limited (RINL). The plan includes Rs 10,300 crore as equity infusion and Rs 1,140 crore conversion of working capital loans into non-cumulative preference shares redeemable in 10 years. RINL, operating the Visakhapatnam Steel Plant with 7.3 Mtpa capacity, will resume full production by August 2025. The move aims to stabilize steel production and support the objectives of the National Steel Policy, 2017.

Note: The above-mentioned news was first published by us in our ProjectX India | 1st February 2025 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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