RINL's Disinvestment process is under progress, clarifies Steel Ministry
The Ministry in its statement has clarified that there is no freeze on the disinvestment process of RINL.
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New Delhi: Ministry of Steel, Government of India on Friday, April 14 gave clarification on the disinvestment of RINL.
This clarification came up after when some media reports stated that the government was holding the process of disinvestment.
The Ministry in its statement has clarified that there is no freeze on the disinvestment process of RINL.
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Clarifying some media reports regarding the hold on the disinvestment process of RINL, the Ministry of Steel said that the disinvestment process of RINL is in progress and efforts are being made by the company and supported by the Government to improve the performance of RINL and keep it as a going concern.
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Rashtriya Ispat Nigam Ltd, (RINL), also known as Vizag Steel, is a public steel producer based in Visakhapatnam, India. Rashtriya Ispat Nigam Limited (RINL) is the corporate entity of Visakhapatnam Steel Plant (VSP), India's first shore-based integrated steel plant built with state-of-the -art technology.
Visakhapatnam Steel Plant (VSP) is a 7.3 MTPA plant. It was commissioned in 1992 with a capacity of 3.0 MTPA of liquid steel. The company subsequently completed its capacity expansion to 6.3 MTPA in April 2015 and to 7.3 MTPA in December 2017.
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