Steel Exchange India Ltd receives major contract from RINL worth Rs 210 crore
Steel Exchange India wins Rs 210 Cr RINL contract to convert 1.2 lakh tons of billets into Vizag Steel TMT bars, boosting capacity and revenue.
Steel Exchange India Ltd has been awarded a significant contract from state-owned RINL. The company has been successfully awarded the conversion contract in recent Bid from a public sector company i.e Rashtriya Ispat Nigam Limited (RINL) to convert 1.20 lakh tons PA Billets into various sizes of TMT Bars of VIZAG STEEL Brand.
This conversion work will be carried out from the company’s existing new rolling mill, which will ensure better capacity utilization and increased revenues.
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The contract is for 2 years and can be extended mutually for another 1 year. The cost of the order is Rs 210 crore.
The contract includes to convert 1.20 lakh tons Billets Per Annum into various sizes of TMT Bars of VIZAG STEEL Brand for a period of 2 years which can be extended for another 1 year with Mutual Consent.
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