Centre clears privatisation of RINL

04 Feb 2021 CW Staff

The Centre has approved the privatisation of public sector steel producer Rashtriya Ispat Nigam Ltd (RINL), which operates the 7.3 million metric tonne (mt) capacity Visakhapatnam Steel Plant.

Currently, the government holds 100% stake in the company that makes long products used in construction.

RINL has two subsidiaries—The Bisra Stone Lime Company Ltd (BSLC) and The Orissa Minerals Development Company Ltd (OMDC).

Heavy losses have been incurred by RINL since FY17 on the back of rising interest costs, except for FY19 when the company posted a net profit of Rs 96.71 crore.

To cut costs and improve productivity, RINL had approved a revised voluntary retirement scheme (VRS) for employees in September 2020.

The revised VRS applies to employees who have completed 15 years of service and have attained 45 years.

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

Make in Steel 2021

24 February

Click for event info

OMDC runs six manganese ore and iron ore mining leases at Barbil in Odisha’s Keonjhar district. The leases include Kolha Roida iron and manganese mines, Dalki manganese mines, Thakurani iron and manganese mines, Belkundi iron and manganese mines, Bhadrasai iron and manganese mines and Bariaburu iron mines.

Lease rights of all the six mines have expired and are not in operation for want of statutory clearances, for which the company is taking necessary action to re-start mining.

BSLC undertakes mining and marketing of dolomite and limestone. The mines are located at Birmitrapur in Sundargarh district of Odisha, with about 287 mt dolomite reserves and 367 mt limestone reserves.

Image source

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..