Rashtriya Ispat Nigam
Products | Steel and Iron |
---|---|
Revenue | ₹20,492.03 crore (US$2.6 billion) (2018-2019)[4] |
₹96.71 crore (US$12 million) (2018-19)[4] | |
Total assets | ₹35,201.31 crore (US$4.4 billion) (2018-19)[4] |
Total equity | ₹7,352.28 crore (US$920 million) (2018-19)[4] |
Owner | Ministry of Steel, Government of India |
Number of employees | 14,729 (March 2023) |
Subsidiaries | RINL Forged Wheel Plant, UP Eastern Investments Limited (EIL) The Orissa Minerals Development Company Limited (OMDC) The Bisra Stone Lime Company Limited (BSLC) |
Website | www |
Rashtriya Ispat Nigam Ltd, (abbreviated as RINL), also known as Vizag Steel, is a
Location
The steel plant is in the southern part of
History
RINL is wholly owned by the Government of India. In November 2010, the company was granted the Navratna status by the Government of India.[5][6] In September 2011, the government announced plans to divest 10% of its stake in RINL via an initial public offering. In February 2021, the Cabinet approved the privatisation of steel-maker Rashtriya Ispat Nigam Ltd (RINL). This decision caused massive protests in Vizag city.[7][8][9]
Operations
RINL operates a 7.3 million tonne per annum capacity steel plant in Visakhapatnam.[10] During the initial periods, the company suffered huge losses. Later the profits have gone up by 200% making it the only steel industry to achieve such a target. Its annual capacity is expected to reach almost 7.5 million tonnes by 2020. RINL plans to invest ₹60,000 crore (US$7.5 billion) to increase the capacity to 20 million tonnes by 2027.[11]
References
- ^ "RINL Formation Day Celebrated" (PDF). Rashtriya Ispat Nigam Limited. Retrieved 2 September 2011.
- ^ "CONTACT US - RINL". 12 May 2023.
- ^ "Dr Suresh Chandra Pandey assumes charge as Director (Personnel) of RINL". 12 May 2023.
- ^ a b c d "Balance Sheet 31.03.2019".
- ^ "Visakhapatnam Steel Plant unions serve strike notice". 10 June 2012.
- ^ "Cabinet clears privatisation of Rashtriya Ispat Nigam - The Hindu Bus…". archive.vn. 7 February 2021.
- ^ "Doctors in Kerala observe fast protesting anomalies in pay revision |…". archive.vn. 7 February 2021.
- ^ "India to Sell 10% Stake in Rashtriya Ispat Nigam". The Wall Street Journal. 2 September 2011. Retrieved 2 September 2011.
- ^ "Expansion Plans". Rashtriya Ispat Nigam Limited. Retrieved 2 September 2011.
- ^ "RINL to invest Rs 60K cr to have 20 MT capacity by 2027". Business Standard. Press Trust of India. 3 October 2013. Retrieved 23 October 2016.