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 Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..