Steel Exchange India Ltd (SEIL) has secured a significant Rs 210 crore contract from state-owned Rashtriya Ispat Nigam Limited (RINL) to convert 1.2 lakh tonnes of billets annually into TMT bars under the Vizag Steel brand.

The contract will utilise SEIL’s existing rolling mill infrastructure, improving capacity utilisation and boosting revenue. The initial term is for two years, with a possible one-year extension by mutual agreement.

This deal strengthens SEIL’s role in the domestic steel supply chain and supports RINL’s production goals through a strategic public-private partnership.