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

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..