India, Feb. 11 -- The Government of India issued the following news release:
Government of India has approved the infusion of rs10,300.00 crore as equity capital in Rashtriya Ispat Nigam Limited (RINL) [including rs 500.00 crore already provided as emergency funds in September, 2024] and conversion of rs 1140.00 crore working capital loan as 7% Non-cumulative Preference Share Capital redeemable after 10 years, to keep RINL as a going concern.
RINL at its full installed capacity has potential to produce 7.3 million tons of liquid steel and 6.7 million tons of saleable steel per annum. India achieved 144.2 million tones steel production in 2023-24. The revival of RINL will help to achieve objectives of National Steel Policy, 2017.
The appr...