+
Government Grants Rs.1,640 Crore Bailout to RINL
ECONOMY & POLICY

Government Grants Rs.1,640 Crore Bailout to RINL

The Indian government has stepped in to support Rashtriya Ispat Nigam Limited (RINL) with an initial bailout package of Rs.1,640 crore to prevent its closure amid severe financial struggles.

RINL, India's largest shore-based steel producer and the corporate entity of the Vizag Steel Plant, has been facing mounting debts, with accumulated losses impacting its operations and sustainability.

The bailout aims to ensure RINL can meet immediate operational needs and address financial obligations while the government assesses long-term restructuring and revitalization strategies.

Officials stated that the move is crucial to safeguard jobs and maintain steel production, given RINL’s significant contribution to India's steel industry.

Additionally, discussions are ongoing regarding strategic disinvestment to attract private investment, which may provide a sustainable path forward for RINL.

The bailout highlights the government's commitment to supporting public sector enterprises vital to the nation’s industrial base.

The Indian government has stepped in to support Rashtriya Ispat Nigam Limited (RINL) with an initial bailout package of Rs.1,640 crore to prevent its closure amid severe financial struggles. RINL, India's largest shore-based steel producer and the corporate entity of the Vizag Steel Plant, has been facing mounting debts, with accumulated losses impacting its operations and sustainability. The bailout aims to ensure RINL can meet immediate operational needs and address financial obligations while the government assesses long-term restructuring and revitalization strategies. Officials stated that the move is crucial to safeguard jobs and maintain steel production, given RINL’s significant contribution to India's steel industry. Additionally, discussions are ongoing regarding strategic disinvestment to attract private investment, which may provide a sustainable path forward for RINL. The bailout highlights the government's commitment to supporting public sector enterprises vital to the nation’s industrial base.

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?